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Blockchain technology is weaving its way through various businesses. Porsche is the first car company to implement blockchain technology for their vehicles.
What is blockchain technology? Without getting into the technical details too much, it is a distributed ledger of transactions verified by independent third parties with everything being encrypted. Basically, it is a log of events that everyone can see to determine what has happened in the past. In other words, with blockchain, you can easily access the history of a second-hand car and see every single detail of its life.
Porsche is implementing blockchain technology to transfer data more quickly and securely, and to give its customers more peace of mind in the future. This will be the case whether they are charging, parking, or need to give a third [...]