Porsche is the first car manufacturer to test blockchain technology with the view of adding blockchain to its cars.
In a recent press release, Porsche stated the following:
In collaboration with the Berlin-based start-up XAIN, Porsche is currently testing blockchain applications directly in vehicles. This makes the Zuffenhausen-based company the first automobile manufacturer to implement and successfully test blockchain in a car.
How can the blockchain help porsche?
If Porsche does decide to implement blockchain technology, it could so in a number of ways. The blockchain could include the following:
- Transfer data between Porsche and the car/customer quickly and securely, without being hacked
- Allowing secure and easy access to the car via a mobile app
- Recording data such as mileage, service history, repairs etc on the blockchain without them being forged
- The blockchain could also restrict access to the vehicle where, for example, there is outstanding finance on the vehicle which has yet to be paid
- Allowing the owner of the vehicle to grant a third party temporary access to the vehicle
The blockchain opens up many possibilities for companies. Whether you like Crypto or not, it appears that the blockchain will be here for a long time, and can be truly revolutionary to many organisations as well as public services.
I would highly recommend each reader to take time to study the blockchain in order to be prepared to what I believe will be the future.
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