The German luxury sports car maker Porsche announced that Xain AG has won its first innovation contest on blockchain technology. The contest that had been announced since the opening month saw more than 100 applicants submit their idea or venture on Blockchain Technology, Xain AG was the winner after unveiling its unique business idea.
Xain will have the opportunity to collaborate with the Stuttgart sports car manufacturer, along with a prize of 25,000 euros. He will also participate in the HHL Leipzig Graduate School Accelerator Program.
“The project is a great opportunity. Together with Porsche, we now want to continue our pioneering work on blockchain technology,” says Leif-Nissen Lundbaek, CEO and co-founder of Xain.
Lundbaek and Felix Hahmann founded Xain AG in February 2017. It focuses on the development of Blockchain systems and offers solutions in the areas of artificial intelligence, machine learning and data analysis for industrial production.
Martin Roth, Strategy, Finance and Risk Management Manager at Porsche said his goals are based on gaining insight into the disruptive potential of the Blockchain transaction system from the start-up scene.
The active collaboration between Porsche and Xain will begin in August 2017 with a pilot phase of three months. The pilot phase will try to develop a concrete prototype of an application based on Blockchain technology.
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