Attention Blockchain Startups, Porsche Wants You!

Supercars and blockchain? I know, right? The two don’t really go hand in hand. Nevertheless, the vaunted Stuttgart-based automaker is raring to learn more about it.

Earlier this month, Porsche unveiled the Porsche Innovation Contest (h/t CoinDesk), a startup competition with prizes such as a EUR25,000 pot, a 3-month stint at SpinLab – The HHL Accelerator, and a pilot project with the sport car manufacturer. It’s primarily aimed at startups focused on blockchain technology.

Why are they doing this? Well, here’s what they had to say:

Porsche aims to obtain external input on the disruptive potential of the blockchain transaction system by collaborating with the start-up scene. The central question is to what extent the application of this technology in the value creation chain of the company makes sense. Moreover, other forms of potential long-term collaboration will be investigated.

SpinLab meanwhile says that Porsche merely hopes to gain future suppliers and partners through the contest. It doesn’t want to take any equity stake in them, just to create solid future relationships and find out how blockchain can make the company better. Interesting, no?

In any case, this isn’t the first time an automaker looked into blockchain’s potential. Earlier this year, Mercedez Benz’s parent company, Daimler AG, announced that it will be joining the Hyperledger Project as a Premiere member. Much like Porsche, Daimler’s aim is to simply learn more about blockchain, though obviously the two just want to position themselves well for any potential upsides it may bring. Here’s Jan Brecht, CIO, Daimler AG:

“We see Blockchain as a promising technology, not fully mature yet, but continuously growing. Now is the right time to get into it, build up knowledge and form a network of like-minded people to share experiences…By joining Hyperledger, we are confident to do the right step towards this direction.”

Your move, BMW?

Photo: Manik.