Blockchain Technology and its Applications in Grassroots Sports Development in India

Abstract

Sports development in India has been a key concern for the nation for several years. Few key factors hinder the growth of the sporting scenario which need to be addressed. The purpose of this study is to explore the integration and innovation of blockchain technology for grassroots development and funding in the Indian sports industry. First, the technology's features and scope are described, as well as its applications in various industries. Second, an overview of the global sports industry is presented, with a focus on the income generation of players, teams, and associated organizations in order to comprehend the industry's value chain as a whole. The sports landscape in India is then examined in-depth, with observations made based on grassroots development through governance, schemes, and private entities. Finally, the system's major difficulties are identified, and ideas for incorporating blockchain technology to address those issues are presented. Therefore, a strategic solution to an evident problem has been conveyed through this research thus it poses a practical significance.