Privacy blockchain Concordium, and Geely Holding (a Chinese multinational auto company) will be launching on Tuesday. AnnoucedThe creation of a joint venture in blockchain technology with its headquarters located in Wuxi (China). This project is designed to improve the standards of blockchain technology and develop new blockchain technologies, particularly in automotive.

Geely Holding, which established the joint venture in February 2017, has set up a subsidiary called Digital Technology Sector (or DTS) to invest and develop cutting-edge technology, such as blockchain. Both entities will offer customers and businesses access to blockchain platforms-based business models as well as decentralized applications. DTS is already developing blockchain services like a digital asset tracking platform and a Blockchain traceability platform. This has been integrated into Geely’s auto products.