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Spanish SEAT and Alastria To Create Blockchain Products

18:39 18/01/2019
Spanish SEAT and Alastria To Create Blockchain Products

Spanish car manufacturer SEAT in collaboration with the Alastria consortium intend to develop solutions based on blockchain technology, Cointelegraph reports.


Striving to refine many financial processes and hoping to improve production supply chain, SEAT together with Alastria will test blockchain solutions. Luca de Meo, the president of SEAT, says that the company is confident that the distributed ledger technology has a future.     


Before, SEAT in partnership with a Spanish telecommunication operator Telefónica have already started creating a blockchain platform to track supply of vehicles parts within the whole production chain of the car factory in Martorell.


SEAT was founded in the middle of XX century as a national production enterprise and nowadays it is the leading car manufacturer in Spain. In 2017, the company’s revenue reached record highs of 9.5 billion euros ($10.8 billion).


Alastria is a multi-industry consortium, half of which belongs to the state. Alastria comprises the network of over 70 various firms and organizations, including prominent banking institutions of Spain, an electrical energy firm Repsol, Telefónica, and others. The alliance is established to study, develop, and popularise blockchain.


As previously reported, at the end of 2018, the General Motors automotive corporation applied for a patent for the technology allowing autonomous cars to manage info on blockchain.

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