FuturoCoin Signs Red Bull F1 Sponsorship Deal

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Cryptocurrency’s sponsorship of sporting teams and events shows no signs of slowing down. Following Litecoin’s sponsorship of UFC 232 and JetCoin’s sponsorship deal with British football team Derby County, FuturoCoin has announced that it will be among the sponsors to appear on the Red Bull Formula 1 car in the 2019/20 season. Red Bull finished third in last year’s constructor standings, so presuming they enjoy as much or even more success next year, FuturoCoin could see some nice exposure.

Fast Track to Adoption?

Red Bull team principal Christian Horner hailed the partnership and the emergence of blockchain itself, stating:

The rise of blockchain technology and cryptocurrencies has been truly remarkable, and we’re delighted to be the first Formula 1 team to embrace this through our partnership with FuturoCoin. Secure digital currencies are on the leading edge of technological development and we are very excited to be part of this revolution.

Rumors that Horner knows as much about blockchain as a Formula 1 car does about Bitcoin are yet to be substantiated. FuturoCoin co-founder Roman Ziemian was equally as excited:

Cryptocurrencies and Formula One are very similar and their values are much alike; speed, technology and being ahead of their time. I’m a huge fan of motorsport and F1 has always intrigued me. The sponsorship is an exciting new chapter for our company and will be a global platform for us to drive awareness of FuturoCoin.

Some Claim FuturoCoin is The Pits

FuturoCoin is a Polish peer-to-peer cash system that it aims to “remove the current barriers in the cryptocurrency [market]”. It has been developed by FutureNet, a social network and multi-level marketing company that is currently under investigation by the Polish government due to claims that it is operating as a Ponzi scheme. Critics argue that the coin is not what it purports to be, as the masternodes, the supposedly decentralized network of computers that effectively oil the wheels of the blockchain, will be wholly owned by FutureNet, therefore centralizing the blockchain. FutureNet argues that individuals can still mine the coin and that the ownership of masternodes has no bearing on the centralization or otherwise of the coin.
Either way, FuturoCoin will be looking to the Red Bull sponsorship to raise their profile in the crypto world and be sipping champagne come season’s end.