United States automotive giant General Motors (GM) has become the most recent member to join blockchain startup Spring Labs’ partner project to boost data security, the corporate confirmed in a very press release February. 11.
GM, which has experimented with the technology before, will be part of the Spring founding industry Partners (SPIF) Program, that launched in Jan.
Now with nearly 20 participants, the theme aims to handle issues in data provenance through collaborative analysis.
Spring Labs, as Top Market Group reported, plans to release its initial related product this year.
“As the captive finance arm for General Motors and one among the world’s largest auto finance suppliers, we are regularly innovating and evolving our fraud prevention and detection capabilities to raised serve and shield our customers and dealers,” said mike Kanarios, chief strategy officer at GM financial commented in the press release.
Quoted by Forbes, Spring Labs’ chief executive officer Adam Jiwan recommended that if successful, any participation may reach GM’s operations more widely.
Jiwan explained:
“We came along with the view that we tend to might develop a series of use cases that will match a number of [GM Financial’s] core business priorities as a loaner, or potentially [those of] GM as a parent company.”
The handout also notes that GM financial is that the initial to hitch SPIF.
GM has taken a more and more active role in blockchain development in recent years. In late 2017, GM financial became one among the earliest members of Hyperledger, an open-source enterprise blockchain project that has since increased numerous well-known names. Hyperledger presently provides the technology behind IBM’s blockchain platform.
Six months later, gram launched its own cross-industry blockchain association together with different major automobile makers. In Dec, GM filed a patent on using the technology to handle information, specifically regarding autonomous vehicles.
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