SEAT Joins Consortium to Develop Blockchain Products

Spanish automaker SEAT has joined the Alastria consortium to work on the development of block-based products. Cointelegraph in Spanish reported the news of January 16. Link below

SEAT was founded in 1950 and is a state-owned industrial company and the largest car manufacturer in Spain. SEAT sales in 2017 reached a record 9.52 million euros (10.878 billion US dollars), 11.1% more than in the previous year.

According to the latest announcement, SEAT joined Alastria, a semi-public multi-industry consortium backed by a national network of more than 70 companies and branches. These include large companies such as the banks BBVA and Banco Santander, the telecommunications provider Telefónica, the energy company Repsol and the service company Accenture. The goal of the alliance is to promote the further development of blockchain technology.

As part of the collaboration, SEAT plans to test the financial benefits of Blockchain to improve and streamline existing processes and simplify supply chain management.

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