Porsche has successfully tested and implemented blockchain in their cars

Porsche has become the first automobile manufacturer to successfully tested and implemented blockchain in their cars. After developing and testing applications over the past three months, the German automobile manufacturer has introduced blockchain technology into the Porsche Panamera.

The Ethereum-based blockchain applications successfully tested so far include locking and unlocking the vehicle using a decentralized app and temporary access authorizations executed through smart contracts.

Porsche claims, the process of opening and closing the car via a decentralized app takes 1.6 seconds — up to six times faster than before. They are currently working on further applications of blockchain technology in the areas of charging and parking. According to Oliver Döring, Financial Strategist at Porsche, blockchain technology holds enormous potential.

“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,” Döring said.

Blockchain applications could be developed to improve autonomous driving functions. Porsche is already sketching out new business models based on the blockchain, with autonomous driving in mind.
Atomobile manufacturer is working to deploy blockchain applications suited for vehicles, in collaboration with XAIN, the Berlin-based startup won “Porsche Innovation Contest” in the summer of last year, beating over 100 other applicants in the process. Following the contest, interdisciplinary teams from across Porsche worked in collaboration with XAIN over the course of three months to develop and test applications.