Spanish Car Maker SEAT Joins Blockchain Consortium Alastria

Blockchain, Group | January 18, 2019 By:

SEAT, a Spanish automobile manufacturer, has announced that it has joined blockchain consortium Alastria.

Founded in 1950, SEAT is the first non-German wholly owned subsidiary of the Volkswagen Group. Headquartered in Madrid, SEAT claims to be the only major Spanish car manufacturer with the ability and the infrastructure to develop its own cars in-house. In 2018, the company delivered 517,600 vehicles, which is 10.5% more than in 2017 (468,400), and exceeds the record set in 2000 (514,800 cars).

Alastria is a multisectorial consortium promoted by organizations and institutions for the establishment of a semi-public blockchain infrastructure, supporting services with legal effectiveness in the Spanish scope. Members include BBVA, Banco Santander, Telefónica, Repsol and Accenture, among others.

SEAT said it joined the consortium to test and further progress the development of blockchain technology and encourage synergies with other participating companies.

“The aim of SEAT’s move to join the Alastria network is to enable several company divisions to have a first contact with blockchain technology and learn about the possible benefits that this knowledge can bring to different areas,” the company said. “More specifically, production will be the first department to reinforce the development of this technology, with the main goal of studying the potential advances of Industry 4.0. Another area where SEAT wants to put blockchain solutions to work is finance, beginning with testing new initiatives to improve standard procedures.”

SEAT President Luca de Meo said that being a part of the Alastria network opens up new possibilities for developing services and products with complete confidence and security.

“We are the first carmaker to join this ecosystem which comprises the country’s major companies,” de Meo said. “We are convinced of the importance that blockchain technology will have in the future, and for this reason we want to be involved from the outset.”