BERLIN: Porsche has become the world's first car manufacturer to fit a test car with sophisticated blockchain technology - used to make cryptocurrencies such as bitcoin - the company recently announced.
Together with the Berlin-based start-up XAIN, Porsche says it has been testing a range of blockchain applications in a modified Panamera saloon.
Functions include locking and unlocking the vehicle via an app, temporary access authorisations and new business models based on encrypted data logging.
In Stuttgart, Porsche says the research could be expanded to improve functions such as autonomous driving.
Blockchain is a decentralised protocol for data transactions between business partners. Every change is recorded in chronologically arranged data blocks, making the system transparent and tamper-proof.
"We can use blockchain to transfer data more quickly and securely, giving our customers more peace of mind in the future," says Oliver Doering, financial strategist at Porsche.
Blockchain could be used to provide a safe connection for owners when they recharge or park the car in public or else need to give a third party, such as a parcel delivery agent, temporary access to the vehicle, says the expert.
Porsche says data transfer using blockchain is faster and more secure than currently possible. The car becomes part of the blockchain, making a direct offline connection possible – without the need to divert through a server.
Porsche says blockchain could speed up the process of opening and closing a car with an app by up to six times.
"We translate the innovative technology into direct benefits for the customer,” adds Doering.
