Williams F1, a famous racing team competing in Formula 1, decided to become involved with the blockchain technology. The racing team formed an alliance with a startup called Omnitude. The team would like to see how the blockchain technology could be used in various aspects of the team’s operations.
According to the official announcement, the goal of the alliance with Omnitude is to explore how the blockchain technology based on Hyperledger Fabric, a collaborative open code project impulsed by the Linux Foundation, could innovate the way in which the data is processed and improve the competitiveness of the team in a sport where time is everything: “Williams Martini Racing has today partnered with Omnitude to look at how blockchain technology can become a crucial tool within a Formula One team. Enterprise middleware technology provider Omnitude will work with the team to explore how blockchain technology could be implemented into numerous aspects of how a Formula One team operates.”
The blockchain solution developed by Omnitude is still waiting for the production of nodes. The solution is designed to process transactions by distinguishing between different entities, such as clients, providers, affiliates and merchants. Moreover, the platform offers solutions for identification, tracking of supply chains, etc.
The Omnitude blockchain ecosystem was created at the end of last year and it was constructed on the top layer of Hyperledger. The roadmap available on the company’s website says that this project is still in its early phase and some technical tests are still necessary to be performed before the blockchain network is launched, along with ECOM, the native cryptocurrency of Omnitude. The company has good prospects considering the partnership signed with Williams F1, which could convert it in the first startup focused on the blockchain technology whose logo is shown on a Formula 1 racing car. This could already happen on May 13th during the Spanish Grand Prix. The Formula 1 team assured the partnership with Omnitude would last for several years.
Toro Rosso, another Formula 1 team, has been working since November last year with Acronis Notary, a platform designed using a hybrid combination of the blockchain technology and cloud storage.
Acronis Notary and Toro Rosso are focused on taking advantage of the data generated by the car, since the functioning of the racing car is half of the job during the race. The racing industry requires effectiveness, immediacy and confidentiality of the data, which are some of the main characteristics of the blockchain technology.
The technological innovation is important for the Formula 1 races just like the driving expertise of the drivers. This is why the blockchain technology is appealing to these two Formula 1 teams, because it is able to share immutable and encrypted data in real time.
The goal of Toro Rosso is to transfer five terabytes of information to the team base and the company has been working with the blockchain technology for almost two years. On the other hand, it is yet to be seen for what purposes Williams F1 is planning to use this innovative technology to improve its results in the Formula 1 championship.