HOMEWORK

Questions

1. Explain in detail what is the Socios.com Platform?

2). What are the effects when blockchain has entered the realm of the sports industry?

3). Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence.

4). Explain the steps to install the Socios application in full and explore the various features in the application. (Screenshot Required)

5). Choose a Fan Token in the Socios application and do a detailed fundamental analysis. (Screenshot Required)
6). conclusion

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Explain in detail what is the Socios.com Platform?

For long,fans have been dying to take part or participate in decision making process in their favourite sport club but this was more like a dream that would never be actualize until socios.com paved way

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socios.com is a platform created by chiliz which serves as an avenue for the provision of blockchain fintech for organization in the sport field.
socios runs on ethereum blockchain and it token CHZ is one of ERC 20tokens.

The main and core purpose of this platform is to bring the world of sport to the door step of fans and sport lovers.
With the socios app,fan can interact more and partake in decision making process that has to do with their favorite sport club or team.
The socios.com platform boast of about 40+ Official partners in different sport industry.

One fascinating thing about the socios.com platform is that it has not only partnered with some football sport team clubs likePSG, BARCELONA and MAN CITY but with other teams in sporting industries like basketball, Motorsports,gaming, fighting and even cricket sport team making it makes it more diversify.

It might also interest you to know that this platform exhibits alot of features.
All this features are unique in their own way with the sole aim of bridging the Gap between favourite sport team or clubs and the fans,making it easy for fans and sport team to interact more and also give fans the opportunity to participate in decision making process like I made mentioned earlier.
some of the feature this platform exhibits are as follow:

FAN TOKEN:-This feature is the main feature of this platform,you can say it is more like a crypto currency created by sport clubs which will serve as tie/connection or transaction token between ones favourite club and you as a fan.

Fan who are in possession of this sport club token can participate in voting on several issues pertaining to the club.
it is just an innovation of bridging the Gap between sport club and fans.

POLLING FEATURE:-The polling feature feature is a bit similar to the fan token feature..Just like the fan token,the polling feature gives fan the opportunity to participate in decision making on several things the club will implement

For example,fan can be able to:
i.chose team new bus design

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ii.pick message for captain hand band.

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iii.chose the motto for the dressing room.

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and the list goes on.

It also can be said to be the "power of fan" feature.
but for a fan to be able to perform or enjoy this privilege,such fan must possess the sport club fan token.

REWARD FEATURE:-This feature is more like a prize given to true fan that are loyal to the sport club.it is a way of compensating fans for their effort and loyalty to the sport club.
it can come in different forms like:

i. Fan can be given the opportunity to meet their favourite athletes or team or player.

ii.visit to the stadium

iii. receiving of autograph or signed collectibles from their favourite athletes
etc,the list goes on and on but I wouldn't want to dwell much on it.

What are the effects when blockchain has entered the realm of the sports industry?

The effect when blockchain enter into the realm of sporting industry is going to be massive.
The effect can't be over emphasized.
Since blockchain is an open ledger that records transaction or operations between two parties, this implies that middle men are no longer a necessity.
it would be easy to connect the two parties together and so there would be direct interaction with each other,by "two parties" I meant sport club and fans
I will mention some of the effect that blockchain would incorporate into the sport industry.

•Fan engagement:I already talked about this In the first question.The fans would be able to directly interact with sport clubs and also take part in decision making process directly.

•Data storage:- blockchain is a unique data base or system of recording data and Information in blocks and then chain them together,this will enhance record keeping in the sporting industry.
Blockchain would be used to store up vital information about the sport club.

•Change the betting system:-like I mentioned earlier, blockchain is an open ledger that records transaction between 2 parties,making it possible for individual to perform certain operations and transaction themselves and between two parties. This implies that the need for middle men will be outdated.
blockchain would change the idea behind betting since betting plays a major role in the sport industry, blockchain is going to create an era of peer to peer betting system unlike when a bookie is needed to set the odds and validate a bet.

•Salary paid in crypto currencies:-some player are already receiving payment in Bitcoin already, blockchain will make this a full blown reality,salary would be paid in crypto currency.

•since token will also be introduced under blockchain in the sport industry,it will help in curbing distribution of fake sport collectibles,with the club token,fan can get real collectibles from the club itself and athletes.

And lastly SECURITY. blockchain is secure.

Is Socios.com a good prospect as an investment vehicle? Explain your personal opinion along with strong evidence

Of course yes!
since it is a platform that connects fans directly to/with their favourite sport clubs or athletes,small investors like myself can seize this opportunity to purchase or acquire shares in their favorite athletes or sportclubs in form of crowdfunding a project for the sport club and then investors can receive a certain percentage from the clubs earning in future.
This shares can be traded also,this is what investment is all about, TRADING, isn't it?
I personally think it is lucrative, considering the fact that sport industry is one of the highest paying industry in the world today,if not the highest paying industry!

I would have love to continue with the rest of the questions but my hands are tied.
The app wouldn't load completely on my mobile phone,it stops at 89% every time I try opening it,I have installed and reinstalled,same thing keeps happening.

CONCLUSION

socios.com is a platform that die hard fans of sport should consider using,it is one of it kind,no strong competition yet.
it can equally serve as an avenue for fans to invest and also participate in decision making process of their sport club.
I also want to appreciate @wahyunahrul for putting together this wonderful and eye opening lesson to engligthen we the student.

Thanks for reading

CC:@wahyunahrul