Porsche Will Include Blockchain Applications in Vehicles.

In collaboration with the XAIN start-up, based in Berlin, Porsche is currently testing applications based on blockchain technology directly on their vehicles.

This makes the Zuffenhausen-based company the first car manufacturer to successfully implement and test the blockchain in a car.

It was indicated in a written communication that transactions based on this technology are safe and can be processed much faster than any other that has been used to date. Among the services tested include blocking and unlocking the vehicle through an app, authorizations for temporary access to the car and new business models based on the registration of encrypted data. This could be further developed, for example, to improve autonomous driving functions

This could have a huge potential, according to Oliver Döring , Porsche’s financial strategist : “We can use the blockchain to transfer data more quickly and safely, which would provide our customers with more peace of mind in the future, whether they are charging their car battery, parking or needing to deliver it to a third party, such as an agent of package delivery service, or to offer temporary access to the vehicle to another person. We are using the innovative technology in direct benefits for the client

The car becomes part of the blockchain, which allows a direct offline connection, that is, without deviation through a server. The process of opening and closing the car with an application takes 1.6 seconds, which is up to six times faster than before, and also produces an efficient cryptographic encryption. This process ensures that all activities are documented in the blockchain in a way that prevents them from being modified and can be seen through an application. For example, the authorizations of access to the car can be distributed digitally and safely, and can be supervised by the owner of the vehicle at any time. The access also works remotely.

Porsche is also working on new commercial models based on blockchain: through auditable data recording, the information that must be processed is encoded locally in a blockchain that has been distributed. The user has control over the data and decides how to use it according to the situation.

Sources: Econotimes ABC.es , Porsche

Disclaimer:   InfoCoin is not affiliated with any of the companies   mentioned in this article and is not responsible for their products and / or services. East  press release is for informational purposes only, the information does not constitute   Investment advice or an offer to invest.


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