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SEAT Links Up with Alastria Consortium to Work on Blockchain Products

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Automobile manufacturer SEAT has linked up with Alastria consortium to join in the advancement of blockchain-based products.

Cointelegraph in Spanish reported on this matter.

Established almost seventy years ago in 1950, SEAT is a state-owned industrial firm which is considered to be Spain’s largest car manufacturer. SEAT’s turnover reached a record numbers of 9.552 billion euro ($10.878 billion) in 2017, which is 11.1% more than the year before.

The recent announcement indicated that SEAT joined Alastria, a multi-industry, semi-public consortium supported by a national network of over 70 companies and establishments. These include major companies like banks such as BBVA and Banco Santander, telecommunications provider Telefónica, energy firm Repsol and professional services company Accenture. The aim of the alliance is to push forward the advancement and development of blockchain tech.

As part of the partnership, SEAT plans to trial the benefits of blockchain in the financial real, looking to boost and augment the current processes and facilitate supply chain management.

Luca de Meo, who is the SEAT president, has said that the company is “convinced of the relevance that blockchain technology will have in the future.”

Meanwhile, SEAT and Telefónica have already started jointly working on a proof-of-concept of a blockchain product that would monitor vehicle parts throughout the supply chain of SEAT’s factory in Martorell, Spain.

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