Porsche to Use a Private Ethereum-based Blockchain

It has been announced that Porsche will be collaborating with startup Xian AG to integrate blockchain technology into its platform.
The German car manufacturer selected Leif-Nissen Lundbaek, CEO and co-founder of Xain, as the winner of their Porsche Innovation Contest. Xain AG is an European startup that utilizes new tech like the blockchain, machine learning, and data analysis for industrial production.

What's Next?

The next step in the partnership of the two companies will be a three month phase in which they will develop ideas on how to integrate the project into SpinLab, which is an accelerator for startups. In this phase the ultimate value and usefulness of the technology to Porsche will also be determined.

The Tech

As Lundbaek says:

Xian AG is using a “private Ethereum engine layer architecture” coupled with a cryptographic AI protocol that “optimizes the network in a self-learning way.”

Although they haven't yet revealed exactly how they will utilize the technology, we can be sure that this will cause other companies to also look into partnering with other blockchain startups and cryptocurrencies to introduce new innovations to the world. We hope that other companies will see the potential in blockchain technologies just as Martin Roth (manager for strategy, finances, and risk management at Porsche) has.

These pioneers are leading the way to a new connected world in which technology vastly improves our lives. Eat your heart out, Fed.