Australian bitcoin payments infrastructure company Diamond Circle is bringing bitcoin to the racetrack, sponsoring local superbike rider David Johnson in this week’s famous Tourist Trophy (TT) race on the Isle of Man.
Taking a cue from the recent successful (at least in the attention-getting stakes) covering of NASCAR racer Josh Wise’s car with dogecoin livery, Diamond Circle will put its logo alongside the orange ‘B’ on Johnson’s helmet as he rides in the 107 year-old race classic, which is broadcast around the world.
CEO Stephen Rowlison believes that such associations and global sponsorship deals are the best way to bring light to the digital currency revolution as it rolls out its products, and thanked associates such as Jason Kelly of the Manx Digital Currency Association.
He presented one of Diamond Circle’s bitcoin debit cards to Johnson’s racing team Lloyd James PR Kawasaki as part of the promotion.
Bitcoin friendly jurisdiction
The Isle of Man has made bitcoin headlines outside of motorcycle racing too. A recent ruling by the island’s Financial Supervision Commission determined that licenses are not required for bitcoin exchanges, and over 15 bitcoin exchanges are said to be interested in setting up there.
Fast internet and low taxes have already made the territory an e-commerce hub, including a large number of online gambling sites.
Business leaders on the self-governing British Crown dependency have formed the Manx Digital Currency Association, whose role is to assist government and protect the reputation of the Isle of Man through sensible policies.
Diamond Circle’s ecosystem
Diamond Circle is developing a bitcoin payments infrastructure consisting of ATMs, debit cards, merchant POS systems and online exchanges, with plan to use near-field communication (NFC) technology to send and receive coins.
Selling its system both locally and internationally, Diamond Circle says overseas interest had been strong, and it recently sold six of its ‘cashless’ ATM terminals to a customer in the Middle East.
Diamond Circle was also recently named in Gartner’s Cool Vendors list for 2014, and will list on the entrepreneurial capital raising market the Australian Small Scale Offerings Board at 1 cent per share, through merchant bankers Funding Strategies.