Liv McMahon<\/span>Technology reporter<\/span><\/p>\n<\/div>\n <\/span><\/div>\n<\/div>\n The Spanish football giant Barcelona has told fans it has “no connection whatsoever” with the digital coin offered by its new crypto partner, following criticism over the deal.<\/p>\n Clubs often pick up sponsors in unusual areas to bring in extra money – with Arsenal bringing in Persil as its fabric care partner<\/a> in 2023, and Kellogg’s becoming Manchester City’s breakfast cereal partner<\/a> that same year.<\/p>\n But far less is known about Zero Knowledge Proof (ZKP), which signed a three-year sponsorship deal in mid-November with Barcelona.<\/p>\n ZKP then announced a cryptocurrency, prompting concerns Barcelona fans could be led to invest in it – leading the club to distance itself from the coin.<\/p>\n<\/div>\n “The club has no responsibility for, or involvement in, the issuance or management of this token, nor does it use the associated technology,” the club said in a statement on its website<\/a>. <\/p>\n Little is known about ZKP, which also announced a similar sponsorship deal with Australian rugby league team Dolphins in early November.<\/p>\n On its website, it says the project has been founded and developed by “a pseudonymous collective” based across “multiple jurisdictions”.<\/p>\n In other words, the firm is not revealing the names or locations of those behind it.<\/p>\n University of Sussex professor Carol Alexander said the Barcelona brand gives enormous visibility to crypto firms like ZKP – but there is “substantial risk for supporters who buy the tokens”.<\/p>\n “Sponsorship creates an aura of credibility, even when the underlying project is opaque,” she told the BBC – saying this meant fans and supporters should be “very cautious”. <\/p>\n “Before buying any crypto asset they should ask who controls it, where the documentation is, and what recourse they have if it fails,” she said.<\/p>\n “With ZKP, none of those answers are clear.”<\/p>\n<\/div>\n Details about ZKP are few and far between, with the firm even claiming it has no single headquarter.<\/p>\n![\"EPA](\"https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/8c49\/live\/790d9da0-cc54-11f0-afd9-dfd0234147a3.jpg.webp\")
EPA<\/span><\/div>\n<\/div>\n<\/figure>\n‘Substantial risk’<\/h2>\n<\/p>\n
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