SEAT, a Spanish carmaker announced joining Alastria consortium, a multi-sector platform in Spain to develop blockchain-based solutions to assist with the urban mobility initiative. The alliance is mainly to promote the development as well as advancement of blockchain technology.
The Significance of Technology at a Glance
The move by SEAT makes it the first car manufacturer to join the pioneering network which already has more than 70 major businesses as well as institutions such as Banco Santander and BBVA. The company aims to test as well as further progress development of the blockchain technology. Also, they intend to encourage synergies with the other companies that are participating.
Blockchain technology is not new as it has been around for almost a decade now and it represents evolution respect to the well-known networked communications. Information is easily accessible, increasingly instantaneous and sometimes leading to unreliable data. SEAT Joins Alastria Consortium in Developing Blockchain-Based Solutions.
There’s insufficient verification for those that are involved in communication processes with the external suppliers and for that reason, the technology aims to transform the industries without third parties in exchange of goods and services, and hence enhancing procedural security.
The Alliance in Details
There’s no doubt that SEAT may have realized the importance of blockchain and according to SEAT president Luca Meo joining Alastria network, it will open possibilities to develop services as well as products with confidence and security.
SEAT aims to enable a variety of its divisions to have the first contact with the technology and effectively learn the possible benefits the knowledge can bring to various areas. For instance, production will have to be the first area to reinforce the technology.
Furthermore, SEAT wants to put in place the blockchain solutions in finance through a start with testing the new initiatives to improve standard procedures significantly. SEAT had already collaborated with Telefonica Company that works on a blockchain-based proof of concept in improving traceability of parts in Martorell factory’s supply chain.
The automotive industry is undoubtedly undergoing a digital transformation and SEAT is adapting to that switch of things in the current world. The implementation and development of the digital solutions aim at car production to enable the company to be more efficient, agile, flexible and digital.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: https://www.journaltranscript.com/disclaimer
The Next Big Thing In Biotech?https://journaltranscript.com
Get our top rated alerts on the biotech sector
Miner Stock About To Explodehttps://www.journaltranscript.com
Investors are flocking to this stock like no tomorrow !
Traders Need To Know This Nowhttps://journaltranscript.com
WallStreet is loading up on this stock. Find out why