German automaker Porsche has announced it will explore ways to make better use of Blockchain in the automotive world in the future. The announcement of Feb. 27 also states that they are collaborating with XAIN on research. The XAIN company has been researching and strengthening Blockchain technology since 2014.
Blockchain is a revolutionary technology that we all probably know or at least heard of at least in connection with cryptocurrencies and Bitcoin. However, it can be used in a number of other areas, for example in medicine, research, financial sectors, to increase cybersecurity, but also in the automotive industry.
Blockchain to unlock the car, as well as autonomous control
The world-renowned icon maker, Porsche, has previously said it is the first car maker to implement and successfully test Blockchain. For example, you can apply to processes such as remote control of the vehicle using the application. It could also allow temporary access to the vehicle for another person, or for better data encryption and greater security. Porsche has also indicated that Blockchain technology can be used in the future for autonomous vehicle control systems.
Porsche already allows the remote control of the vehicle with the application. Blockchain could speed up this process up to six times. From a technical point of view, it would be necessary to include the whole vehicle in Blockchain, which would allow the vehicle to be controlled even without a remote server connection, as is the case today.
“Blockchain can be used to make data safer and faster, so our customers can be more relaxed in the future,” said a finance strategist Oliver Döring in the press statement.
The data obtained during the drive can be encrypted locally using Blockchain. Such data can then be controlled, for example, by other drivers or sold to integrators. Above all, they can be used for artificial intelligence systems and autonomous vehicle control systems.
However, Porsche is not the only automotive company to explore the use of Blockchain technology. For example, ZF, UBS, and IBM’s software giant are collaborating on the “Car eWallet” application, which would allow secure pay-per-transaction, toll, or parking payment transactions. The use of Blockchain has also been researched by Toyota since last year.