GM Financial participates in block chain security project

Carmaker General Motors is seeking partners for a data security project with SpringLabs, a block – chain startup.

GM has long sought the possibility of block-chain technology. But this time, I decided to participate in the Spring Founding Industry Partners (SFIP) program. SFIP is a project launched in January, and GM Finance has become SFIP Participant # 1.

Currently, fewer than 20 companies are participating in this project, but the collaborative research is aimed at reviewing various problem responses to the data. SpringLabs will release its first related product this year.

As GM’s insurance subsidiary and global automotive finance firm, GM Financial has evolved anti-fraud and detection technologies, saying it will provide better quality services while protecting customers and dealers.

SpringLabs expects GM to be more actively involved and work in more areas if the plan goes well. It is now limited to the financial sector, but if the application is expanded, it is possible to expand the application range to the GM business of the parent company.

GM is actively involved in the development of block chain technology. In 2017, GM Financial took part in Hyper Leisure. Hyper Leisure is an open source business block-chain project that is now the technological foundation to support IBM’s block-chain platform.

GM later formed a block-chain consortium with other major automakers. In December last year, the company applied for a patent on the data processing method of using the block chain technology related to autonomous vehicle. For more information, please click here .