Porsche is Testing the First Blockchain-Based Car Technology

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According to Cointelegraph, the giant car manufacturer Porsche is the first automobile manufacturer to test a blockchain technology in their cars. The company is working with Xain, a german blockchain technology startup.

In a statement released on February 22, the german-based car manufacturer mentioned that the company was “the first automobile manufacturer to implement and successfully test Blockchain in a car.”

In the future, Porsche believes that the blockchain technology will improve the security of the driverless cars. There are many applications for blockchain technology.

It will be possible to lock and unlock the car with a smartphone, there will be the capacity to allow temporary secondary users and to create new and improved business models with data logging.

Oliver Döring, the financial strategist for Porsche is optimistic regarding the potential of the blockchain technology. During the press release, Döring mentioned,

“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.”

A Porsche spokesperson mentioned that the process of opening and locking the doors would be 6 times faster with the app. That is only possible when “the car becomes part of the Blockchain, making a direct offline connection possible – that is, without diversion through a server”. The present approach is still centralized so an online connection is required.

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