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The Spanish car manufacturer SEAT joins the Alastria consortium to develop Blockchain products

The Spanish carmaker SEAT joined the Alastria consortium to work on the development of blockchain products. Cointelegraph in Spanish reported the news on January 16th.

Founded in 1950, SEAT is a state-owned industrial company and the largest Spanish carmaker. SEAT's turnover reached a record level of 9.552 billion euros ($ 10.878 billion) in 2017, an increase of 11.1% compared to the previous year.

For the recent announcement, SEAT has joined Alastria, a multi-industrial, semi-public consortium supported by a national network of over 70 companies and plants. These include important players such as the banks BBVA and Banco Santander, the telecommunications provider Telefónica, the energy company Repsol and the professional service company Accenture. The goal of the alliance is to promote the development and development of blockchain technology.

As part of the collaboration, SEAT intends to test the benefits of blockchain in the financial field, with the goal of improving and optimizing existing processes and facilitating supply chain management.

The president of SEAT, Luca de Meo, reported that the company is "convinced of the importance that blockchain technology will have in the future".

Meanwhile, SEAT and Telefónica have already started working together on a proof-of-concept of a blockchain product that will follow vehicle parts along the entire supply chain of the SEAT plant located in Martorell, Spain.

Last month, General Motors (GM) of American automobile production presented a blockchain patent for a data management solution from autonomous vehicles.

In September, German automaker Porsche AG announced that it will increase its investment in startups – with a focus on blockchain and artificial intelligence (AI) – of around $ 176 million over the next five years. The investments target "early and growth" activities that relate to "customer experience, mobility and the digital lifestyle", as well as future technologies, including blockchain, AI and virtual and augmented reality.

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