Porsche Invests in Blockchain Startups to Secure Car Data and Access
Known for its premium and sport cars, Porsche was founded back in 1931. Having 32,300+ employees, it sold 256,255 cars in 2018 alone, generating $25.8 billion in revenue. Today, the company is investing heavily into emerging technologies, such as blockchain and artificial intelligence (AI), looking for new solutions that can improve customer experience for car owners and can secure data processing.
Today, the strategic investment portfolio of Porsche includes over 50 startups. One of them is Gapless, a German company that builds blockchain-based solutions for secure encryption of data records. The startup was founded in September 2018 and is actively growing.
Gapless offers drivers an opportunity to digitally manage all the information about all their cars, including those previously owned. This may include the entire history of vehicles with photos and attached documents for each of their cars. Another useful feature is managing appointments (e.g., with a garage service), getting notifications about these, and storing the history of visits on a personal timeline.