General Motors Partners With Spring Labs Blockchain-Based Startup
The General Motors automobile corporation has partnered with the Spring Labs blockchain startup within the framework of the Spring Founding program aimed at improving data management standards in the field of auto financing, according to the company's press release.
The project was launched in January 2019, and it will contribute to solving problems with verifying the users and also combating fraud. The Spring Labs affiliate program includes almost two dozen companies that will verify the origin of the data through joint research. The corresponding software will be released by Spring Labs this year.
According to Mike Kanarios, the director of business strategies at GM Financial, General Motors' financial division seeks to maintain the image of the largest car manufacturer company for which it constantly introduces innovations to combat fraud.
Adam Jiwan, CEO at Spring Labs, suggested that if this project succeeds companies can deepen their partnership and extend it to the other areas of GM. Jiwan stated that the partners came to the conclusion that it is necessary to introduce a blockchain that will go in line with GM's business priorities.
As previously reported, SEAT, a Spanish car manufacturer, along with the Alastria consortium will develop blockchain solution to improve supply chains.