Blockchain Made Its Place in Formula One

Formula One races can be classified as one of the most thrilling competitions in the world. But Formula One is all about the asphalt, burning tires, and roaring engines, what has a technology like Blockchain to do with Formula One? You will be surprised when you hear the whole story.

Williams Martini Racing is undoubtedly among the best racing teams in Formula One. The team relies heavily upon enhanced modern technologies that can get them even the slightest edge in the competition. Williams Martini Racing team just recently announced that it is exploring the opportunities to gain an advantage over its competitors by implementing the blockchain technology.

Frank Williams founded the racing team in 1977 after which, the team has secured 114 victories and has been crowed FIA Formula One World Champions 16 times till today. Statistics show that over a billion people around the world watch Formula One races. Williams Martini Racing has partnered up with an enterprise middleware technology provider Omnitude. The racing team and the enterprise technology provider are exploring the options of implementing the blockchain technology into the team’s operations.

The team’s official announcement mentioned that the squad has made a multi-year partnership deal with Omnitude which will now be a part of the branding on the drivers of the team and senior personnel from the Spanish Grand Prix. The announcement also stated that Omnitude’s logo will now also appear on the team environment and on Williams Martini Racing’s racecar for the Spanish and Monaco Grand Prix.

While the world of crypto has found its way into the premium racing competition even before Williams Martini Racing team, this is the first time that a racing team has decided to actually use the any of the crypto technologies in its operations. Last year, Jetcoin had become the primary sponsor of Sky Grande Prix at the time of Singapore Formula One race night.

This is not the only auto-related organization that has announced its intentions to deploy the blockchain technologies in its operations to improve the results, many automobile manufacturers have recently also announced their plans to incorporate blockchain technology into their business. One great instance is the Mobility Open Blockchain Initiative, also known as MOBI.

Mobility Open Blockchain Initiative was launched by a grand team-up of a number of blockchain industry members, leading automobile manufacturers including BMS, General Motors, Ford, and Renault, and organizations from a few other industries. Mobility Open Blockchain Initiative was launched with the primary objective of making transportation more affordable, safer, and more widely accessible.

MOBI is reported to be working in a number of different projects including vehicle identity, history, and data tracking, autonomous machine and vehicle payments, car sharing and ride-hailing, supply chain tracking, transparency, and efficiency, and data markets for autonomous and human driving.

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