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Porsche begins exploring new blockchain-based apps in its vehicles

German automotive marque Porsche has announced that it has begun testing new blockchain-based applications in its vehicles.

Shortly after newly-rebranded VeChain Thor announced a new partnership with BMW, German automotive brand Porsche has publicly announced that it has begun testing several blockchain-based apps in its vehicles.

Revealed in a new press release, Porsche claimed that it is now “the first automobile manufacturer to implement and successfully test Blockchain in a car.”

Presiding over the announcement, Porsche financial strategist Oliver Döring revealed that “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”.

Porsche has further outlined that blockchain technology might be applied to improve the safety and capabilities of autonomous cars – potential applications for blockchain technology could range from temporary access authorization through to new data logging techniques.

The German marque further hinted that third-party providers might be able to introduce integrated software solutions that could be executed through a smart contracts platform.

In the release, Porsche claims that blockchain features could be leveraged to speed up the process of locking and opening a car through a mobile application by as much as six times, and remarked that it is experimenting with processes that could leverage a ‘direct offline connection’ to bypass diversion through a server.

Sliding into first gear

The move comes as part of a wider interest in blockchain technology that has stoked the fascination of motoring brands.

While software giant IBM has begun development of a ‘Car eWallet‘ to secure transactions at charging stations, car parks, and toll stations, BMW’s new partnership with VeChain Thor has been echoed by Volkswagen’s alliance with IOTA.

Have your say!

What are your thoughts? How could automotive brands leverage blockchain technology in future vehicles? Be sure to let us know your opinion on Twitter – join the conversation @coininsidercom!

Posted: Mar 01, 2018 Author: Bryan Smith Categories: Adoption