“The time has come” – says the German car manufacturer Porsche in a video. Because of the collaboration with the German blockchain start-up Xain, Porsche is introducing a blockchain network that runs via Ethereum. This makes the car a part of blockchain.
Porsche can further expand the services for its customers through smart contracts and blockchain technology. Blockchain ensures a safe and fast transfer of data. This can range from recharging the car, parking to even delivering parcels where you can access / give access to the car for a limited period.
This integration of blockchain will also have a positive effect on the development of technology for self-driving cars. After this the cars can communicate with each other much more efficiently.
The car can be opened and closed in 1.6 seconds via the blockchain app. This is 6 times faster than before. Access to the car can be controlled remotely by the owner, but the owner of the car controls the data he wishes to share.
Porsche is working with Xain, a young technology company based in Berlin that specializes in blockchain and artificial intelligence with a focus on the automotive industry. Their blockchain technology that runs via the Ethereum platform consumes much less energy in the mining process. Because of that, it’s very suitable for mobile devices and vehicles.