World's First Crypto-sponsored Formula 1 by Red Bull and FuturoCoin

February 6, 2019, | AtoZ Markets - This week Red Bull Aston Martin announced that it will enter into a partnership agreement between itself and the cryptocurrency company FuturoCoin. Will the deal between the sixth largest automaker in the Formula 1 racing championship and the crypto corporation give the next push to the blockchain introduction in the community?

Blockchain application is taken to the next level

The scope of the blockchain continues to expand. Along with the use of new technology in the financial sector, it is successfully used in the energy, marketing, and the customer service sectors. While other sports teams also started to use the blockchain technology and digital assets in some way, the professional sports still remain an empty niche. The blockchain enthusiasts suggest that the new Aston Martin and FuturoCoin deal will encourage more professional sports teams to look for similar opportunities to study advanced technologies in the future.

Automaker giant partners with a small crypto startup

According to the report in one of the racing news editions of Red Bull, Aston Martin became the first Formula 1 team that entered into an agreement with a cryptocurrency company. Multi-profile energy drink sponsors, they claim, will work with the little-known digital asset Futurocoin in the future. As stated on the official Futurocoin page, the startup’s code is an extended version of Dash's code. The company claims to provide users with four seconds of transaction time and low fixed commissions.

Both sides stay positive about future collaboration

The head of the team Red Bull Racing Christian Horner (pictured below) in a recent interview said that his company is happy to "be the first Formula 1 team, which will take advantage of the growing technology of blockchains and cryptocurrency thanks to the partnership with FuturoCoin."

No less optimistic about the partnership FuturoCoin. Regarding the deal, Polina Wozniak, the company's CEO, said:

“We are very proud that FuturoCoin will become the first cryptocurrency in the world that has appeared on the Formula 1 car. In addition, we look forward to working with the prestigious brand Aston Martin Red Bull Racing, recognized throughout the world."

Aston Martin is not the first one?

A partnership between Red Bull Aston Martin and FuturoCoin may not be the only case when a professional sports team has a similar interest in blockchain technology or cryptocurrency.

Last year, several sports clubs have already taken steps to explore financial and technological innovations. Last summer, the Italian football club Rimini FC became the first team bought for the cryptocurrency. Then in October, the French football club Paris Saint-Germain spoke in detail about plans to launch its own digital asset.

Of the other sports-related cryptocurrency news, the NBA team The Sacramento Kings became the first professional sports club to extract digital assets from its stadium in June 2018. The club has turned part of its modern sports facility into a data center with a profit that goes to local charity.

Think we missed something? Let us know in the comments section below.

Leave a Reply

Your email address will not be published. Required fields are marked *