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The Spanish car manufacturer SEAT has joined the Alastria consortium to work on the development of blockchain products. Cointelegraph in Spanish announced the news on January 16th.
Founded in 1950, SEAT is a state-owned industrial enterprise and the leading Spanish car manufacturer. SEAT's revenue would have reached a record 9.552 billion euros ($ 10.878 billion) in 2017, 11.1 percent above the previous year.
Following the recent announcement, SEAT joined Alastria, a semi-public, multi-industry consortium supported by a national network of more than 70 companies and institutions. These include major players such as banks BBVA and Banco Santander, telecommunications provider Telefónica, energy group Repsol and professional services provider Accenture. The alliance aims to promote the progress and development of blockchain technology.
As part of this collaboration, SEAT plans to test blockchain's benefits in the field of finance, with a view to improving and optimizing existing processes and facilitating supply chain management.
SEAT President Luca de Meo is quoted as saying that the company was "convinced of the relevance of blockchain technology in the future".
Meanwhile, SEAT and Telefónica have already started working together on a proof of concept for a blockchain product that will track vehicle parts throughout the supply chain of the SEAT plant in Martorell, Spain.
Last month, US automaker General Motors (GM) filed a blockchain patent for a data management solution from autonomous vehicles.
In September, the German automaker Porsche AG announced that it would increase by about 176 million dollars its investments in startups, focusing on blockchain and artificial intelligence ( AI) over the next five years. The investments target companies in the development and growth phase related to "customer experience, mobility and digital lifestyle", as well as future technologies, including blockchain, AI and reality virtual and augmented.
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