Porsche is connecting with startups to develop blockchain technologies for the car industry.

Blockchain is a decentralised system which enables speedy and transparent transactions to take place between people and organisations. It could be used to trade major items like cars with contracts concluded directly and securely between the buyer and seller.

The Por-sche Innovation Contest is open to early stage companies working on the digital ledger platform. It will see the selected startup bag €25,000 and a spot at the SpinLab – The HHL Accelerator, an abandoned Leipzig cotton mill transformed into an innovative and creative environment by the legendary car manufacturer.

Startups can apply until May 15, 2017.

 

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