General Motors Uses Blockchain to Boost Automotive Industr

Jun 14, 2019 at 11:18 // News

General Motors Ventures investment section has agreed to collaborate with a blockchain startup to work on a protocol and also develop a fraud protection system for the auto financing sector. General Motors (GM) will put much attention, knowledge and money to invest in this project, so as it can reach to its fruition.

Willingness to Support Innovation

The project will be implemented in cooperation with the Spring Lab startup. It is devoted to help to develop products using distributed ledger technology that has the potential to verify, protect and defend users. In fact, they are being developed to expedite and secure identity authentication, fraud management and loan stacking deterrence.