Tag Archives: XAIN

Porsche Begins Testing Blockchain

Big things are happening over in Zuffenhausen, Germany, headquarters of Porsche. According to a Porsche press release, the automobile powerhouse is making a major push towards integrating blockchain technology into its cars. In a partnership with XAIN, a tech startup located in Berlin, Porsche is reportedly working on developing blockchain applications with its cars. Things like locking and unlocking a vehicle, parking, or even enterprise usage such as loaning out the company car to an employee are all made easier by way of the blockchain. Especially useful is the fact that blockchains are essentially public ledgers. Because all transactions (in this case, actions involving the vehicle) are recorded in an immutable ledger, gathering data about driver behavior and vehicle performance will be much easier to track. Car owners would theoretically be able to monitor who accessed their vehicle, by whom and when. This could play a major factor in expanding the “sharing” economy which has exploded over the past few years. Furthermore, it opens up a world of possibilities with P2P transactions between vehicle owners. Instead of using a credit card to refill their gas tank or recharge their car battery, drivers could send each other the equivalent of “PorscheCoins,” to pitch in for a night out on the town.

Reference: https://www.ccn.com/porsche-begins-testing-blockchain-integration-vehicles/