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Porsche Is Using Blockchain In Their Cars

Porsche have announced that they have begun testing blockchain applications in its cars. The aim of this is to make it easier to unlock and grant access to their cars, streamline payments and ultimately lead to better and safer vehicles.

In late February, Porsche made the announcement that it was collaborating with XAIN, a German startup to successfully integrate and test blockchain in a car. They believe that it could have many benefits, from locking and unlocking your vehicle, including being used to give access to third parties at a specific date and time.

Porsche are confident that introducing blockchain can improve the driving experience. Their aim is that all local data that is collected on user blockchains could then be shared securely with other vehicles, which will lead to learning effects that will make the driving experience safer for all vehicles that are connected.

Although they are the first to test the blockchain, other car manufacturers have decided to work together. Take Volkswagen are working with IOTA, and BMW have also confirmed their partnership with VeChain Thor.

There has been a lot of negative press when it comes to car manufacturers and their customers, but the introduction of blockchain could go a long way toward putting these issues behind them. The thing that is holding them back is the lack of confidence that people have in general towards blockchain and scalability. So far, it has not shown that it can be successfully scaled without affecting the performance.

So what is the future for Porsche and blockchain? If it moves beyond the simple proof of concept testing and out into real world use of this technology, blockchain really good be a massive game changer.

Featured Image Source: Pixabay

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.