The blockchain is being used in all sectors of the industry, and the automotive sector is no exception. In this line, the automobile manufacturer Porsche announced that it is testing this technology to improve the functionality and safety of its vehicles.
In partnership with the startup XAIN, established in Berlin, Porsche announced to be conducting various tests on blockchain applications for cars, such as the implementation of mechanisms to open and close doors automatically, create temporary access authorizations or the possibility of registering all the activities of the vehicle in a chain of blocks and visualize them through an app. In addition, they are studying new business models based on blockchain, as they point out that these applications will be able to improve automated management functions in the future.
As they explain, the application to open and close the car is six times faster than before, taking 1.6 seconds to perform such task; because the vehicle is connected to the blockchain with a direct method, not diversified in servers, enabling the authorized access to the vehicle by its long-distance owner. This can happen thanks to the adoption of intelligent contracts, which automate various tasks.
On the other hand, the new business models studied aim to automate automotive driving and a general improvement in this experience thanks to blockchain, as it could share information on routes, accidents and various aspects with other drivers participating in the network.
According to Oliver Döring, Financial Strategist of Porsche, blockchain has the capacity to offer better services to the client.
We can use blockchain to transfer information more quickly and safely, giving more peace of mind to our customers in the future, whether they are loading fuel, parking or need to provide a third party with temporary access to the vehicle. We convert this innovative technology into direct benefits for the consumer.
With regard to XAIN, it should be mentioned that this company specialized in Artificial Intelligence and blockchain solutions for the industrial sector was the winner of the Porsche Innovation Contest, dedicated exclusively to startups specialized in blockchain, which was launched last year and where XAIN competed with another 100 participating projects. After winning the contest, they worked for three months to perform tests on these applications.
In spite of everything, Porsche is not the only company that is testing the blockchain in the automotive industry. There are many projects and companies involved in this area, such as IBM, Daimler AG, Seat and Telefónica; due to the potential of the blockchain to optimize the processes concerning the industry and the experience of the user or driver with his vehicle and the arteries he transits.