Blockchain Daily

How Porsche are using blockchain technology in their cars

How Porsche are using blockchain technology in their cars

It seems the uses of blockchain technology are endless now that Porsche have announced their intention to utilise the technology, becoming “the first automobile manufacturer to implement and successfully test Blockchain in a car.”

The tech, according to the company, can be used in a variety of ways, but specifically mention increased speeds and security when it comes to locking mechanisms and allowing temporary access codes.

“The services developed on the foundation of blockchain are fast and very secure. The car becomes part of the blockchain, making a direct offline connection possible – that is, without diversion through a server. Taking 1.6 seconds, the process of opening and closing the car via an app is up to six times faster than before,” reads a press release announcing the news.

“Moreover, the technology makes it possible to assign temporary access authorisations for the vehicle – in a secure and efficient manner. A protected connection to vehicle data and functionalities can be established using blockchain. At the same time, it protects all communication between participants,” it continues.

To make this happen, Porcshe is teaming up with Berlin-based XAIN, who already list DHL, Volkswagon and NVidia as technology partners. “We use the strengths of modern machine learning algorithms, particularly reinforcement learning, to stabilize our own Ethereum-based low-energy Blockchain. This enables an enterprise-ready, robust and adaptable infrastructure for automated business processes” reads the company’s website.

“Using our XAIN infrastructure for top-level applications and solution services, our partners are enabled to build privacy friendly and highly secure environments to prepare for a strong competitive positioning in an automation focused future.”

The tech won’t just stop at functional and security uses, either, with the ability to offer P2P transactions, automatically pay for fuel and capitalise on the burgeoning culture of car sharing all mooted as possibilities.