March 8, 2021

The Chinese manufacturer Titan Geelu moves to the blockchain

One of the largest car manufacturers in China, Geelu, signed an agreement with the developer of the corporate blockchain Concordium o development of a solution based on the technology of a distributed process.

Geelu Holding Group will own an 80% share of the new company, while the Swiss Concordium Foundation will remain 20%.

“Organizations are willing to offer subsidiaries andfor customers access to new business models on the basis of a blockchain platform and user DApps for all industries, including an auto-mobile psegmizer ", -

The new company will start operating in 2021, closely working with the fintex group and the subsidiary company Geelu Genius & Guru.

Geelu General Director Daniel Donghui Leedeclared that "the ability to use the technology of the blockchain of the world class from Concordium will set industry standards for basic infrastructure" with various

There are many options for using the blockchain in the car industry, in particular, in the development with the unmanned vehicles,