Blockchain technology, mostly known for its pivotal importance for cryptocurrencies, will be used by Porsche to collect data efficiently and safely on the car.
Every sector is trying to adopt this technology and it looks like it will improve a wide range of services. Microsoft announced they will use blockchain to protect users’ personal data and digital personal identities. So it looks like this invention’s relevance is going well beyond the area of digital payments and trading. The trend is confirmed, for example, by the fact that Bank of America is registering numerous patents for blockchain-based inventions.
Porsche is now working with Berlin based startup Xain. This start-up is winner of the first Porsche Innovation Contest launched by the car manufacturer in 2017. The blockchain structure, designed for efficient data saving and cryptographic protection against deletion proves to be the perfect solution for car data collection and protection.
Using this technology, Porsche and Xain developed an app that connects with a Panamera model car. This technology recognizes the owner and opens the car doors. It then tracks all operations made by the car, just like an aeroplane black box. Porsche could also extend its potential to all driving-related transactions such as fuel and highway payments.
This is just one of the many blockchain-based technologies that Porsche and other manufacturers are developing and testing for the new generation of cars. This, in the near future, will offer services that are now dealt with through mobile phones.