For weeks, I’ve been struggling to wrap my head around cryptocurrency and the related blockchain tech. It’s such an interesting and complex topic that several tech magazine and online articles later, and it isn’t much more clear. Leave it to Porsche, then, to not only be the first automotive company to find an application for blockchain tech in their cars, but they released this short video to explain what blockchain is, and how they’re making it work. It’s short and succinct, but it’s a good baseline explainer for blockchain and how it will be incorporated into your new Porsche.
It wasn’t until the checkbook analogy was trotted out that I truly began to understand. Blockchain is the backbone upon which cryptocurrency like Bitcoin, and Ethereum are based, but it has so many further uses than just transfer of money. Porsche has begun harnessing blockchain technology to make your Porsche driving experience ever more seamless, incorporating the tech to make automotive-related transactions simpler and easier.
Oliver Döring, Financial Strategist at Porsche explains, “We can use blockchain to transfer data more quickly and securely, giving our customers more peace of mind in the future, whether they are charging, parking or need to give a third party, such as a parcel delivery agent, temporary access to the vehicle. We translate the innovative technology into direct benefits for the customer.”
If your car can record your transactions securely, especially as Porsche increases their focus on electric automobiles, this will make paying for charging a snap. As we struggle to make sense of cryptocurrency and blockchain tech, and how it can be used to simplify our lives, it seems Porsche has it all figured out. Maybe we should ask them?