Blockchain in Clubs App

Blockchain? WHY?

Moving money around has been a burden for companies for a long while - especially in the tech space. Clubs App uses blockchain to securely move funds around without needing a bank and its regional variance in order to run clubs. This also means that Clubs App cannot tamper with or change club or challenge outcomes after the fact. They are immortalized on the chain and funds are moved securely and non-custodially.

But blockchain is bad because crypto is risky, right?

Nope. While cryptocurrencies like bitcoin and ether can be risky because people buy and sell them to speculate on the open market, Clubs App uses USDC - a dollar-pegged currency transferrable on multiple blockchains. USDC does not fluctuate with market pressures because USDC is backed 1-to-1 with dollars in bank accounts.

Clubs App uses something called a smart contract (or, to be more specific, a Solana-based program) to divvy up and disperse funds. The smart contract has rules that are set early on and are immutable once they have gone into motion. This means that funds will always end up where they should be as determined at the outset. Once the funds are dispersed, Clubs App has no bearing or control on them.

One other effect of a "crypto-less" blockchain application is the lack of difficult-to-use gas tokens or transactional baggage. While there are indeed fees associated with using Clubs App due to its blockchain roots, those fees are collected in USDC - not SOL tokens or any other required currency.