Spanish Car Manufacturer SEAT Joins Alastria Consortium to Develop Blockchain Products

The state-owned industrial company and the largest car manufacturer in Spain, SEAT, has joined the Alastria consortium to develop products based on blockchain technology.

Alastria’s members include more than 70 companies and institutions, including such major players as BBVA and Banco Santander, telecommunications provider Telefónica, energy company Repsol and international consulting giant Accenture. The alliance was created to promote the development of blockchain technology.

Within the framework of cooperation, SEAT plans to test the blockchain’s financial advantages, striving to improve and optimize work processes and facilitate supply chain management.

According to the head of SEAT Luca de Meo (Luca de Meo), the company believes in the prospects of the blockchain.

SEAT and Telefónica have already begun to work together on the verification of the concept (PoC) of the blockchain, which will track the delivery of vehicle parts from the SEAT factory located in Martorell to the end user.

In December, the American automotive giant General Motors (GM) applied for a patent for a data management solution for autonomous blockchain-based vehicles.

In September, the German car manufacturer Porsche AG announced that in the next five years it would increase its investment in startups working with blockchain and artificial intelligence (AI), by about $ 176 million.

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