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12/02/19 07:43 UTC-4

General Motors, a car giant, became a member of the blockchain project

General Motors participates in the blockchain project
General Motors participates in the blockchain project

The car giant of the United States, General Motors (GM), is the latest contributor to the Spring Labs blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
startup project partner, aimed at improving data security, – reported in a company press release published on February 11th.

GM, which has previously experimented with this technology, will join the Spring Founding Industry Partners (SPIF) program, launched in January. The platform’s scheme addresses the origin of data through collaborative research and has about 20 participants.

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Partnership General Motors and Spring Labs

Spring Labs plans to release its first related products this year.

"As a financial division for General Motors and one of the world's largest car financing service providers, we are constantly innovating and developing our fraud prevention and detection capabilities to better serve and protect our customers and dealers," Mike Kanarios, director of strategy at GM Financial commented in a press release.

According to Forbes, Adam Jiwan, CEO of Spring Labs, suggested that if successful, further participation in the blockchain system could extend to GM activities more widely.

Jivan explained: "We came to the conclusion that we can develop a series of options for using the system that would correspond to some of the main business priorities of GM Financial."

In recent years, GM has played an increasingly active role in the development of blockchains. At the end of 2017, GM Financial became one of the first participants of Hyperledger, an open source corporate blockchain project that has since received various well-known names. Hyperledger currently provides the technology behind the IBM blockchain platform.

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Six months later, GM established its own interdisciplinary blockchain association, together with other major car manufacturers. In December, GM filed a patent for the use of technology for data processing, for autonomous vehicles.

Editor: Pereyidenko Ihor

See also: "The MetaMask Virus Software was detected, which was masked under a crypto wallet"

#GeneralMotors #blockchainproject #blockchain #cryptocurrency #startup

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