The US automotive giant General Motors (GM) has recently confirmed its participation in Spring Founding Industry Partners (“SFIP”) Program, a partner project launched by Spring Labs to improve data management standards.

Mike Kanarios, Chief Strategy Officer at GM Financial said that being a member of the SFIP program could help them to improve their current fraud prevention and detection capabilities, and thus better serve and protect their customers and dealers. “Today’s announcement underscores our commitment and investment to advance these efforts, and we are pleased to collaborate with Spring Labs as a member of the SFIP program” , added Kanarios.

The SFIP program launched in January, reportedly brings together almost 20 participants to collaborate on research, development and implementation of Spring Protocol, a blockchain technology network to “transform how information and data are shared globally”. Adam Jiwan, CEO of Spring Labs, says that they are looking foward to “ announcing additional significant partnerships in due course.”

In late 2017, GM reportedly joined Hyperledger, an open source collaborative effort to advance cross-industry blockchain technologies.