Blockchain has entered a variety of industries already with major companies using the distributed ledger technology in numerous sectors, ranging from IT to finance to agriculture to name a few. It seems another industry has seen the potential benefits of the technology and is ready to implement it, as Williams Martini Racing, one of the leading Formula One teams, has announced a partnership with Omnitude in a bid to enhance racing performance using blockchain technology.
Since its foundation in 1977, Williams has won 16 Formula One World Championships and scored 114 victories overall. Formula One has a significant global following, with more than 1 billion people watching the races.
Williams Martini has signed the multi-year partnership agreement with Omnitude and the two parties will cooperate in seeing how blockchain technology can be implemented in a daily routine of a Formula One team. Possible use cases range from supply chain supervision to merchandising. Williams is known in the racing sphere for its innovative strategies, thus with the team somewhat struggling in recent years, it is only logical that it turned towards the revolutionary blockchain technology.
Speaking about the collaboration, Claire Williams, Deputy Team Principal of Williams Martini Racing said that, “Williams prides itself on the speed of innovation and engineering excellence. We welcome the opportunity to form a close partnership with Omnitude and provide the ideal environment to showcase radical new technologies that have the power to transform the capabilities of businesses around the world.“
Omnitude has launched its token sale in March 2018 and is looking to secure additional funding, which is where Williams Martini Racing comes into picture. The blockchain technology will surely prove to be effective in a sport, so much of which is based on huge amounts of data. Additionally, the racing team will feature Omnitude’s logo on team’s drivers, vehicles, and personnel, starting from the Spanish Grand Prix.
Omnitude aims to connect blockchain technology with traditional enterprise systems, with its smart integration layer making it easy for companies of any size to adopt blockchain on a ‘plug and play’ basis. Under such principle, existing systems can remain in place and companies can swiftly start using distributed ledger technology, paving the way for it to be adopted on a mass scale.
Speaking on the partnership, Chris Painter, CEO, and founder of Omnitude said that, “We are exceptionally pleased to have signed this deal with Williams, to look at how Omnitude’s expertise in blockchain technologies can be implemented across their organization. Working with Williams Martini Racing is a major validation of our product and vision and this partnership is a natural pairing of two of the UK’s most innovative and cutting-edge organizations.“
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I have been following the crypto markets since mid 2017, just in time to witness the incredible surge of the digital asset industry. Fascinated by the potential of blockchain technology I’ve started to dig deeper and that’s how I ended up meeting the Toshi Times team. I hold a Political Science degree, therefore the crypto regulation development is particularly interesting for me. I’m also heavily involved with music, running my own label, a YouTube channel and working with distribution. People call blockchain the ‘Fourth Industrial Revolution’ and I believe it will change our daily lives in the coming years and we will have the front row seats to witness it.