Bitcoins Go Primetime as NBA's Sacramento Kings To Accept The Digital Currency

Per ESPN, the Sacramento Kings are the first sports franchise to accept Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for tickets. The news comes as the Kings were nearly out the door and on their way to a different city. However following a multi-year relocation process that seemingly would send the team to Seattle, the plans were rejected by NBA owners in 2013. The failed relocation led to the eventual sale of the team to TIBCO CEO and Founder, Vivek Ranadive for $535 million on May 2013. Upon buying the team, Ranadive cited his interest to keep the team in Sacramento.

When purchasing the Kings, Ranadive had interest in applying new technological trends in his operation of the team, as he told ESPN.com that “When I sold the NBA on keeping the team in Sacramento, my pitch included using the sports franchise as a social network to push the technology envelope. This is an example of that." He also added that “My kids would go to games and ask why we didn't accept Bitcoin.”

Tickets will become available for purchase with bitcoins starting March 1^st. Payment processing for bitcoin transactions will be using technology from BitPay, adding to the Atlanta based bitcoin merchant tools company, another “headline” name client to their customer list which already includes WordPress and Zynga.