Luxury carmaker Porsche has jumped the Blockchain bandwagon – and it is the first one to do so in the automobile industry. The German manufacturing company announced in its digital newsroom that it is now testing out the integration of blockchain technology into its cars. Porsche is carrying out its tests in partnership with XAIN, a Berlin start-up.
Zuffenhausen, a river valley urban district in southern Germany, is always bustling with technological activity from Porche’s headquarters. From exclusive Auro-3D sound technology right from Hollywood Studios, to seven-inch multifunction touchscreens that give complete control to the driver, Porsche is often the trailblazer in these affairs.
The Pilot Project
The Porsche Panarema range is the first participant in the XAIM project. The same technology that powers Bitcoin and Ethereum will now control various car functions with a mobile application. Recording travel data, vehicle locking and unlocking and temporary access authorizations are made possible with the blockchain. Nothing innovative in that, but the process is considerably faster. And the best part? These functions materialize with an offline connection, without the use of any server. Unlocking a vehicle with an app could occur up to 6 times faster with Blockchain – from 10-15 seconds to 1.5 seconds. On a more ambitious note, this disruptive technology is likely to fast-track the process of Improving autonomous driving conditions.
An interesting feature of this pilot project is the flexible key usage. XAIN’s blockchain makes it possible to provide ‘accounts’ with temporary access to the Porsche (for example, to employees), or allow delivery executives to place parcels in the trunk of the car – all just with an app. This development could lead to a boom in the sharing economy sector, which is currently gaining massive momentum.
The AI & Blockchain Startup
With DHL, Daimler, Nvidia, and Enterprise Ethereum Alliance as business partners and customers, XAIN is making waves in the blockchain space. The start-up was brought into Porsche’s purview last summer when it won the ‘Porsche Innovation Contest’ about blockchain applications.
XAIN has built its own low energy Ethereum-based blockchain. Along with researchers from the Imperial College London and the University of Oxford, XAIN has developed a blockchain system in recent years, which significantly reduces the energy consumption of mining.