SEAT joins Alastria, a Spanish blockchain consortium January 18, 2019 January 18, 2019 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 18, 2019 by Kelly Cromley

SEAT joins Alastria, a Spanish blockchain consortium

The Spanish automaker SEAT joined Alastria, a Spanish semi-public blockchain consortium. SEAT has been a subsidiary of the Volkswagen Group since 1986 and was founded by the Instituto Nacional de Industria in 1950.

The company announced that 517,600 vehicles were delivered in 2018, up 10.5% from 2017(468,400). SEAT posted 2017 turnover of EUR 9.552 billion, 11.1% higher than the previous year (2016: EUR 8.597).

Founded in 2017, Alastria is a blockchain-based regulated national network. The initiative is supported among other sectors by Spanish banking, energy and telecommunications companies.

Among its members are BBVA, Banco Santander, Telefónica, Repsol and Accenture.

SEAT aims to explore the blockchain potential in the area of finance in order to improve current processes and facilitate the management of the supply chain.

In 2017, SEAT signed a co- development agreement with Telefónica on innovative initiatives in the car industry. The companies are working on a proof- of- concept that focuses on vehicle parts end-to-end tracking with blockchain technology.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.