Skip to main content
Sister Publication Links
  • Automotive News
  • Automobilwoche
  • Automotive News Canada
  • Automotive News China
Subscribe
  • Subscribe
  • Newsletters
  • Login
  • HOME
    • Latest news
    • Automakers
    • Suppliers
    • New Product
    • Environment/Emissions
    • Sales By Market
    • On The Move
    • Auto Shows
    • Honda unveils its new Level 3 tech, but how does it work?
      Aston Martin boss Stroll has big plans for F1 team
      VW brand will accelerate electric vehicle shift
      Brembo-MAIN.jpg
      Brembo quarterly net profit up 18% despite COVID hit
    • VW brand will accelerate electric vehicle shift
      Spain will use EU funds for EV battery plant with VW's Seat, Iberdrola
      Porsche adds Taycan electric wagon, stepping up Tesla challenge
      Stellantis will increase pace of EV launches in Europe, U.S.
    • Opel Mokka 2020
      Stellantis battery JV seeks contracts with other automakers
      Sogefi appoints new CEO, virus weighs on 2020 results
      3BIDEN-MAIN_i.jpg
      Biden to press for $37 billion to boost chip output amid shortage
      Continental grille web.jpg
      Continental invests in object recognition startup
    • 6DEFENDER-MAIN_i.jpg
      Bigger Land Rover Defender confirmed by JLR
      Porsche adds Taycan electric wagon, stepping up Tesla challenge
      Toyota will stay in Europe's minicar segment while others electrify or leave
      Mercedes preps debut of EQE EV, a Tesla Model S rival
    • Valeo joins Bosch, GM, others in pledge for carbon neutrality
      GMEVBarra-MAIN_i.jpg
      GM aims to stop selling gasoline vehicles by 2035 in carbon neutrality pledge
      VW will appeal $20M Spanish diesel compensation ruling
      Death of diesel looms as automakers accelerate to electric future
    • UK sales plunge 36% in worst February since 1959
      Spain's February sales fell 38% in 'perfect storm'
      German sales plunge 19% in worst February since 2007
      Italy sales dropped 12% in February but incentives boosted demand from private buyers
    • Toyota names new CEO for Europe
      Audi appoints former Porsche exec as finance chief
      Sogefi appoints new CEO, virus weighs on 2020 results
      Audi's new chief engineer will accelerate EV push
    • Geneva Auto Show
    • Frankfurt Auto Show
    • Paris Auto Show
    • Beijing Auto Show
    • Shanghai Auto Show
  • Features
    • Long Read
    • Interview of the Month
    • Focus on Electrification
    • Focus on Mobility
    • Segment Analysis
    • Latest Launches
    • Supplier Spotlight
    • Europe By The Numbers
    • Apple, Nio, other auto newcomers get creative to avoid Tesla's 'production hell'
      How Amazon, Google are transforming the auto industry
      EV-only future looks closer than ever in Europe
      European car retailing poised for shake-up as 'agency' model gains support
    • Renault CEO bets on 'winning horses' for turnaround
      Nvidia CEO says software will soon define the car, drive profit
      Tavares: Keeping PSA, FCA merger on track an 'incredible' achievement
      Renault CEO outlines ambitious revival plan
    • VW brand will accelerate electric vehicle shift
      Spain will use EU funds for EV battery plant with VW's Seat, Iberdrola
      Stellantis will increase pace of EV launches in Europe, U.S.
      Opel Mokka 2020
      Stellantis battery JV seeks contracts with other automakers
    • Honda unveils its new Level 3 tech, but how does it work?
      Honda to sell limited batch of Level 3 self-driving cars
      VW tests self-driving taxis in Germany ahead of 2025 launch
      A 'genius idea' gets a second chance in Renault's mobility strategy
    • EVs make huge gains helped by incentives, tougher CO2 rules
      EVs, surging SUVs to hit Europe's biggest segment
      Wagons hold market share, but costly EV shift looms
      Electrification gains speed in Europe's key compact segment
    • Porsche adds Taycan electric wagon, stepping up Tesla challenge
      Hyundai counts on Bayon's 'distinctive' design to make small SUV stand out
      Mercedes positions C-Class as sportier S-Class
      Nissan Qashqai gets better handling thanks to new platform
    • How GKN is transforming to gain from e-powertrain shift
      Marelli CEO expects e-powertrains to provide long-term boost
      Veoneer boss expects to reach key milestone this quarter
      How Faurecia aims to become a hydrogen leader
    • Europe sales by model, January: Porsche, Lamborghini, Volvo defy down market; Toyota Yaris No. 1-seller for the month, VW Golf finishes 4th
      Top 10 sellers by market, January: Skoda Octavia finishes No. 1 or No. 2 in eight markets
      Russia sales fall 4% in January as rebound stalls
      CORRECTED: Turkey sales, January: Ford, Kia, Opel, BMW rise
  • Opinion
    • Blogs
    • Commentary
    • Guest columnists
    • geely.jpg
      Why Geely wants to be a contract manufacturer
      Jaguar Land Rover Gerry McGovern
      Gerry McGovern is right man to steer Jaguar reinvention
      A 'genius idea' gets a second chance in Renault's mobility strategy
      Skoda connectivity features need to offer more 'must-have' allure
    • Understanding the impact of design on marketing, brand and user experience
      Ex-Aston Martin CEO Palmer calls on UK to intensify battery commitment
      Why Apple must target the $230B luxury car market
      Apple car: Who will build it? Magna Steyr possible candidate
  • Photos
    • Photo Galleries
    • Geneva Photo Gallery
    • Beijing Photo Gallery
    • Frankfurt Photo Gallery
    • Paris Photo Gallery
    • Shanghai Photo Gallery
    • taycan_cross_1.jpg
      view gallery
      7 photos
      Porsche Taycan Cross Turismo
      view gallery
      11 photos
      Volvo C40 Recharge
      view gallery
      11 photos
      Hyundai Bayon
      view gallery
      9 photos
      Honda HR-V Hybrid
    • koenigsegg-gemera-front-quarter-passenger-01.jpg
      view gallery
      14 photos
      Koenigsegg Gemera
      view gallery
      21 photos
      Fiat New 500
      view gallery
      11 photos
      Aston Martin V12 Speedster
      view gallery
      13 photos
      Audi A3 Sportback 2020
    • At the Beijing show, sales rebound and EV boom mix with murky outlook
      3BEIJING-MAIN_i.jpg
      Beijing show to highlight competition for local EV makers
      Beijing auto show delayed due to coronavirus
      Maserati will unveil Ghibli hybrid at Beijing show
    • view gallery
      11 photos
      Mercedes-Benz Vision EQS
      view gallery
      11 photos
      Renault Captur
      view gallery
      5 photos
      Mercedes-Benz AMG GLB 53
      view gallery
      10 photos
      Mercedes-AMG GLE 53 Coupe
    • view gallery
      8 photos
      VinFast Lux A2.0 sedan
      view gallery
      8 photos
      VinFast Lux SA2.0 SUV
      view gallery
      9 photos
      Seat Tarraco
      view gallery
      7 photos
      Toyota Corolla station wagon
    • view gallery
      4 photos
      Nio ET Preview
      view gallery
      7 photos
      Infiniti Qs Inspiration concept
      view gallery
      5 photos
      BMW 3-series LWB
      view gallery
      9 photos
      Mini Clubman
  • Podcasts
  • Car Cutaways
  • EVENTS
    • ANE Congress Conversations
    • ANE Shift
    • ANE Rising Stars
    • ANE Eurostars
    • ANE Leading Women
    • Watch Again
      • July 9: EU green deal in the COVID-19 new normal
      • July 16: Assisted or Autonomous Driving
      • July 23: Challenges in Electrification
      • July 30: The Road Ahead for Europe
    • Meet the 2020 winners
    • Watch the 2020 Rising Stars awards again
  • More
    • Publishing Partners
    • Social Media
    • Contact Us
    • Media Kit
    • About Us
    • Capgemini: Securing the industry's future through a radical rethink
    • Capgemini: Succeeding with the automated driving journey through AI
    • Toyota Europe
    • UFI Filters
    • Facebook
    • Instagram
    • LinkedIn
    • Twitter
MENU
Breadcrumb
  1. Home
  2. Automotive News Europe
March 09, 2018 12:00 AM

Porsche aims to use Blockchain to secure customer data during digital transactions

Christiaan Hetzner
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    Porsche used a Panamera to test applications such as locking and unlocking the vehicle via an app and temporary access authorizations.

    STUTTGART -- Porsche aims to use a decentralized form of bookkeeping known as Blockchain to keep customers' financial data safe from hackers during online transactions.

    As cars become increasingly connected with each other and their environment, Porsche hopes to use Blockchain to offer customers services to take over more mundane tasks involved in owning a vehicle.

    Porsche said it is the first automaker to successfully test Blockchain in a car. “We’ve proven it works and that it offers value to the customer,” said Oliver Doering, Porsche’s financial strategist.

    Over a three-month project that ended in December, developers and engineers turned a Panamera sedan into a node in Blockchain’s peer-to-peer network.

    The pilot applications tested included keyless entry via an app, temporary access authorizations and new business models based on encrypted data logging that analyze driving behavior.

    Porsche said more uses could be developed, for example, to improve autonomous driving functions.

    "In the future, we want to provide digital mobility-related services to create further revenue and earnings growth. Utilizing Blockchain can play a considerable role," Doering said.

    For example, the upcoming Mission E full-electric car could digitally sign a roaming contract to recharge its battery wirelessly, while handling the subsequent payment itself. This involves however the transfer of sensitive data valuable to cybercriminals.

    Best known as the system used to track transactions of the virtual currency Bitcoin, the possibilities of Blockchain extend far beyond traditional banking. Any type of encrypted information can theoretically be exchanged as this "distributed ledger" was mainly designed to prevent data from being tampered with.

    "This is the opposite approach of a central server, which has the disadvantage that it can be hacked," Doering said.

    Apart from ensuring every business deal conducted is verified by all participants in the network, making it harder to commit fraud, another major benefit is that Blockchain fulfills the stricter data privacy laws that take effect throughout the European Union starting May 2018.

    "Since the new directive stipulates that the customer has ownership over his or her data, we as the manufacturer have to guarantee and provide proof that they first off gave us their approval to use it. With Blockchain technology the customer has the ability to selectively provide access to his data as they see fit," Doering said.

    Because there is no need to send data back and forth between a central server, Porsche said the process of opening and closing the door via an app took only 1.6 seconds - up to six times faster than before. This offers the opportunity for package delivery to be handled entirely via the car, without any additional hardware and no real hassle.

    Porsche parent Volkswagen Group is taking a different approach. VW Group's digital strategy chief, Johann Jungwirth, tweeted his support for a rival standard called Tangle, which claims to solve Blockchain’s scalability and energy-related problems including the ever-growing amount of computing power and electricity needed to maintain the system.

    Whereas Tangle is free, the price to conduct Bitcoin transactions via Blockchain has surged as more and more participants have joined the platform.

    Tangle has been in beta testing only since last year and has yet to be proven safe. So far no one has successfully been able to crack the encryption algorithm behind Blockchain since it debuted in 2009. Experts say only a quantum computer, a promising young technology VW is currently testing with Google, might have the capability to one day hack Blockchain.

    RECOMMENDED FOR YOU
    2020 Eurostar winner Frank Bekemeier
    Recommended for You
    2020 Eurostar winner Frank Bekemeier
    2020 Eurostar winner Frank Bekemeier
    2020 Eurostar winner Jürgen Weissinger
    2020 Eurostar winner Jürgen Weissinger
    2020 Eurostar winner Nicolas Racquet
    2020 Eurostar winner Nicolas Racquet
    Succeeding with the automated driving journey through AI
    Sponsored Content: Succeeding with the automated driving journey through AI
    Sign up for free newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    Get Free Newsletters

    Sign up and get the best of Automotive News Europe delivered straight to your email inbox, free of charge. Choose your news – we will deliver.

    You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.

    SUBSCRIBE TODAY

    Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.

    SUBSCRIBE NOW
    Connect with Us
    • Twitter
    • Facebook
    • LinkedIn
    • Instagram

    Founded in 1996, Automotive News Europe is the preferred information source for decision-makers and opinion leaders operating in Europe.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI  48207-2997
    Tel: +1 877-812-1584

    Email Us

    ISSN 2643-6590 (print)
    ISSN 2643-6604 (online)

     

    Resources
    • About us
    • Contact Us
    • 2020 Media Kit
    • Advertise with Us
    • Ad Choices Ad Choices
    • Sitemap
    Awards
    • Rising Stars
    • Eurostars
    • Leading Women
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Automotive News Europe
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • HOME
      • Latest news
      • Automakers
      • Suppliers
      • New Product
      • Environment/Emissions
      • Sales By Market
      • On The Move
      • Auto Shows
        • Geneva Auto Show
        • Frankfurt Auto Show
        • Paris Auto Show
        • Beijing Auto Show
        • Shanghai Auto Show
    • Features
      • Long Read
      • Interview of the Month
      • Focus on Electrification
      • Focus on Mobility
      • Segment Analysis
      • Latest Launches
      • Supplier Spotlight
      • Europe By The Numbers
    • Opinion
      • Blogs
      • Commentary
      • Guest columnists
    • Photos
      • Photo Galleries
      • Geneva Photo Gallery
      • Beijing Photo Gallery
      • Frankfurt Photo Gallery
      • Paris Photo Gallery
      • Shanghai Photo Gallery
    • Podcasts
    • Car Cutaways
    • EVENTS
      • ANE Congress Conversations
        • Watch Again
          • July 9: EU green deal in the COVID-19 new normal
          • July 16: Assisted or Autonomous Driving
          • July 23: Challenges in Electrification
          • July 30: The Road Ahead for Europe
      • ANE Shift
      • ANE Rising Stars
        • Meet the 2020 winners
        • Watch the 2020 Rising Stars awards again
      • ANE Eurostars
      • ANE Leading Women
    • More
      • Publishing Partners
        • Capgemini: Securing the industry's future through a radical rethink
        • Capgemini: Succeeding with the automated driving journey through AI
        • Toyota Europe
        • UFI Filters
      • Social Media
        • Facebook
        • Instagram
        • LinkedIn
        • Twitter
      • Contact Us
      • Media Kit
      • About Us