The NFL draft involves high-stakes negotiations where teams cooperate and compete by trading draft picks. Researchers suggest that blockchain smart contracts could be beneficial in this setting.

In a paper published in the International Journal of Sports Marketing and Sponsorship, Brandon McConnell and Lieutenant Colonel Mat Fukuzawa discuss the potential application of blockchain technology in the NFL draft.

What issue were you looking to address?

The researchers aimed to explore how blockchain-enabled smart contracts could enhance cooperation and competition in the NFL draft process.

Blockchain technology provides a shared ledger among participants, ensuring secure and transparent transactions. Smart contracts, a component of blockchain, automate the execution of agreements once all parties have reached a consensus.

How would this work in practice?

Through smart contracts, teams can streamline trade processes by automating negotiations and agreements. This digital interaction replaces traditional negotiation methods, saving time and enhancing transparency.

Is this ready for implementation?

While the research demonstrates proof-of-concept, practical challenges such as user adoption, scalability, and regulatory issues need to be addressed before widespread implementation. Further research is needed to gauge interest and feasibility.

Why examine the NFL draft?

The decision to explore the NFL draft as a use case for blockchain technology stemmed from its complex, high-stakes nature involving cooperation and competition. The interdisciplinary nature of the research allows for insights from military, business, and technological perspectives.