Canada SailGP Team Announces Partnership with Algorand

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Apr 19, 2022, 07:00 ET

The first major partnership for Canada SailGP Team and first blockchain sponsorship in professional sailing

MONTREAL, April 19, 2022 /PRNewswire/ -- Canada SailGP Team has unveiled a significant three-year partnership with the Algorand Foundation. The agreement marks the first major partnership announcement for the Canadian team and sponsorship of a professional sailing team by a blockchain platform.

Canada SailGP Team and the Algorand Foundation share a vision for a sustainable future that is built on cutting-edge innovation and high-performance technology, making the partnership a natural fit. Both are committed to inspiring a brighter and cleaner future for our planet through sport.

The first blockchain sponsorship in professional sailing

Founded by digital finance entrepreneur Fred Pye, the Canada SailGP Team is all about inspiring the next generation of sailors in Canada, facilitating opportunities for youth to get involved in the sport and creating a pathway for exceptional athletes. The team is building a foiling development programme (We CAN Foil) which will give young sailors from coast to coast the chance to learn to fly. Canada SailGP Team, as part of SailGP, is committed to racing for a better future which includes combating climate change and accelerating the transition to clean energy.

The Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the power of the Algorand protocol and its ecosystem to enable everyone to harness the potential of an equitable and truly borderless digital economy built on a carbon-negative network. With its Pure Proof-of-Stake approach, Algorand has built a sustainable, decentralized blockchain with minimal power consumption that will positively impact innovation in finance and inclusion without negatively impacting the environment.

"SailGP's combination of sport and technology makes it uniquely positioned to provide a platform for growth of all digital asset technology. The Canada SailGP Team is leading the development in this space, and I'm confident that we will be the first team in the League, perhaps in all of professional sailing, to showcase the possibilities of blockchain. This is just one of the reasons why we are so pleased to partner with the Algorand Foundation," said Pye.

"We are excited to partner with the Canada SailGP Team as we are so well-aligned on our shared values of high-performance technology and a sustainable, carbon-zero approach. We look forward to collaborating with the team on a range of initiatives that will show the unique mix of performance, security and sustainability that mark out Algorand as a unique blockchain," said Staci Warden, CEO of the Algorand Foundation.

The countdown to the start of Season 3 has begun, with only a few weeks until the team's first event – Bermuda Sail Grand Prix presented by Hamilton Princess – on 14-15 May, followed by the events in Chicago (June), Plymouth (July) and Copenhagen (August).

ABOUT SAILGP

SailGP races for a better future, championing a world powered by nature. The world's most exciting race on-water, SailGP features national teams battling in short, intense races at iconic stadium-style venues across the globe, building to the grand final – and a top prize of US$1 million. The high-tech, high-speed racing features sailing's best athletes competing in identical hydro foiling F50 catamarans, flying at speeds approaching 100 km/h. SailGP.com

CANADA SAILGP TEAM

Canada SailGP Team is an independent team that has joined SailGP in Season 3. The team and its partners are committed to being a catalyst for the growth of the sport of sailing in Canada and creating a pathway for athletes to proudly represent Canada. The team is an entrepreneurial start up that is all about passion, purpose and risk-taking – elements that lead to winning. sailgp.com/teams/canada

ALGORAND FOUNDATION

The Algorand blockchain — designed by the MIT professor and Turing Award winning cryptographer Silvio Micali — is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solves for the "blockchain trilemma" by achieving both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem. For more information, visit https://algorand.foundation

CONTACTS

CANADA SAILGP TEAM
Jennifer Hall, Head of Marketing and Communications I [email protected] I +39 375 658 8515 +1 339 368 6338

ALGORAND FOUNDATION
[email protected]

SOURCE Algorand Foundation