THELOGICALINDIAN - Innovation in blockchain continues as two above operations accompany armament to body new solutions in the industry
Geely, one of the better car manufacturers in China, has entered a collective acceding with Concordium to advance blockchain solutions.
Geely Moves Onchain
Geely Holding Group will own 80% of the new venture, abrogation the Swiss-based Concordium Foundation with 20%.
The two groups aim to “offer businesses and barter admission to new blockchain platform-based business models and user DApps for all industries, including the automotive segment,” according to a columnist absolution announcement the news.
The new aggregation will become operational in 2024, alive carefully with the fintech accumulation and Geely accessory Genius & Guru.
Geely CEO Daniel Donghui Li stated that “being able to advantage Concordium’s world-class blockchain technology will set industry standards with its basal basement for blockchain applications.”
There are abounding use cases for blockchain in the auto industry, including self-driving cars, ride-hailing, and affidavit of ownership.
The new affiliation is a close admonition that while the crypto markets are booming, assignment continues on the basal blockchain technology in all industries.
The Chinese accompaniment has continued captivated an absorption in blockchain technology. Beijing admiral afresh presented a two-year roadmap analogue how to transform the nation’s basic into a blockchain-based city.
Disclosure: The columnist captivated Bitcoin at the time of writing.
