General Motors Financial Turns to Blockchain to Combat Identity Theft
General Motors Financial has gone on to partner with blockchain company Spring Labs to help reduce identity theft. This move could potentially save the car maker millions of dollars in fraud costs.
95% of carmakers has been reported to use blockchain technology in the next three years.
The partnership will see GM Financial, the finance branch of General Motors, join Spring Labs’ Spring Founding Industry Partners Program. The initiative is designed to advance the role of blockchain in data sharing.
This is a big move towards real-world adoption of blockchain technology.
Spring labs tweeted: “Very excited to officially unveil our partnership with @gmfinancial, one of the largest global providers of auto financing with operations in North America, South America, and Asia. “