Porsche: Test Driving Blockchain


One of the most interesting things about any technology is that it keeps spreading its legs into new-new sectors. How internet evolved and now it is everywhere, How telecommunications brought people closer from around the globe. For a technology that intends to solve problems of people, sky is the limit for such techs. Blockchain is one of this kind. It has already shown signs of revolutionizing things in its own way. From startups to billion-dollar companies and even government organizations, everyone is seeking for opportunities to explore the infinite applications of the blockchain technology.


The most recent update has come from the world of automobiles. Porsche, which is one of the leading names in the luxury car industry, is going to use the blockchain technology. Reports said that the German car manufacturer is considering the use of Blockchain technology in its future vehicles with the help of XAIN, a Blockchain software company based in Wildau, Germany. The Blockchain technology that Porsche is using runs on the Ethereum network which has smart contract capabilities. This will enable users to access the vehicle without connecting to any online server directly. The company also said that this would speed up the amount of time needed to lock the doors of the car. It would only take 1.6 seconds i.e six times faster than its current closing time. If the project is successful, then it could make Porsche one of the first auto manufacturers to use the revolutionary technology in vehicles. The press release issued by the company last week said that the project is finding ways of using Blockchain tech to make vehicles smarter.

The use of blockchain technology would reserve the access & control of the car to a specific and an authorized person, which would virtually make the car theft proof. Porsche Vice President Uwe Michael said in an interview that the company’s use of Blockchain technology would make the purchasing process and the driving experience faster, safer, and more convenient for everyone.

Endless Possibilities with Blockchain


The list of innovative applications of blockchain does not end here. In fact, new startups are using this technology for their new innovation & ideas. A new startup named Faceter is planning to use the blockchain technology for a decentralized surveillance system. It is a decentralized video surveillance company, which promises to detect threats ahead of crimes. This startup aims to make surveillance cameras ‘smart’, using enhanced facial recognition, object detection and, real-time video analysis. The main aim of Faceter is to create a smart surveillance system, using their established computer vision technology, that is actually affordable and available for mainstream use.By combining features such as facial recognition and object detection, Faceter claims that their surveillance technology will be able to understand a situation as it is unfolding, and as a result, respond to it.


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For example, a face can be ‘blacklisted’ on the network, in the instance of banned customers. If this face is detected on the video surveillance, the owners will be alerted via push notification to their phone. It also points out that the technology could be used in a positive way; for example, recognizing satisfied customers. The opportunities are endless and scope limitless. It would not be wrong to say that Blockchain in indeed the future.


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