Posrche has made history by becoming the first car manufacturer to test implement and successfully test blockchain in their car.
This in my opinion is a fantastic demonstration of blockchain use case example within the automotive industry, being lead by an iconic marque that is Porsche.
So exactly how Porsche innovating with blockchain technology?
In collaboration with a local start-up in Berlin called XIAN, Porsche are testing the following innovations:
(1) Locking and unlocking their vehicle via an app, to allow temporary access authorization and new business models based on encrypted data logging, which could for example be used to improve autonomous driving functions. For example local data can be used to obtain regional learning effects, which can be shared securely with other vehicles. The customer can make use of swarm data, which is protected at the same time.
(2) Using blockchain to transfer data more quickly and securely, to give their customers more peace of mind in the future, whether this is in relation to charging, parking or need to give a third party, such as hotel valet, temporary access to the vehicle in a secure and efficient manner.
The access authorization process would ensure that all activities are recorded in the blockchain in a way that prevents them from being tampered and can be viewed using an app by the owner, at any time.
Other use of blockchain technology that Porsche are exploring and testing
(3) A protected connection to vehicle data and functionalities established using a blockchain.
(4) Integration of third-party providers simply by using smart contracts and without the need for additional hardware.
The application of blockchain technology in cars is an exciting prospect and great to see that Porsche is leading the efforts to exploit and innovate with this technology, to introduce never available before functionalities in cars and enhance the customer experience to a whole new level.