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Blockchain Technology Will Be Tested On Porsche Primarily

According to the yesterday’s report, automobile producer “Porsche” is exploring Blockchain applications in its vehicles in cooperation with the Berlin-based startup XAIN.

In their press release published Feb. 22, Porsche stated that the company is “the first automobile manufacturer to implement and successfully test Blockchain in a car.”

Probable apps for Blockchain technology vary from locking and opening car doors with the help of an app, with the possibility for temporary access authorization, to new and improved business models through codified information logging. Porsche also said that Blockchain technology could be applied in further improving the security and capabilities of unmanned cars.

Financial strategist for Porsche, Oliver Döring, is confident about the enormous potential of Blockchain technologies:

“We can use Blockchain to transfer data more quickly and securely, giving our customers more peace of mind in the future, whether they are charging, parking, or need to give a third party, such as a parcel delivery agent, temporary access to the vehicle. We translate the innovative technology into direct benefits for the customer”, Döring states in the press release.

Blockchain funktions could accelerate the process of opening and locking the car with the help of an app by 6 times, according to Porsche. This is made possible when “the car becomes part of the Blockchain, making a direct offline connection possible – that is, without diversion through a server”. Current steps still require an online connection and the leveling of the car’s data with its server-stored equivalent.

Other firms in the automotive industry are also experimenting with the app of Blockchain technology. For instance, the provider ZF, the bank UBS, and the software giant IBM are working on a so-called “Car eWallet”, which could enable safe transactions at charging stations, in multi-story car parks, and at toll stations.

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