Porsche has announced its participation in a $ 5.9 million investment project for a German startup called Gapless. The startup is the developer of a blockchain-based car management system. According to information released on April 29, other investors in the project include Kirsten Judexins (Insurance Entrepreneur) and FinLab EOS VC Fund, a joint venture fund between Block.one and FinLab.
Gapless intends to allocate the money raised to further develop its core product. This product is actually a program that allows users to record the complete history of vehicles and also increase the number of users. According to Gapless, the startup currently manages more than 50,000 vehicles on its platform in Germany, the United States and the United Kingdom.

Porsche's desire to invest in future technologies
Porsche said in an interview that it is constantly pursuing future technologies and investing in them, and will use them one by one if possible to use such products and services to enhance the customer experience. The company added:

We evaluated and tested several blockchain-based strategies. Blockchain can have the potential for any trust-based interaction that requires a decentralized approach.

Migration of car data to blockchain
Technology companies and automakers are developing blockchain-based solutions to track car life and improve driver experience. Recently, the Indian company Smart Sight Innovation has designed an application based on blockchain to improve car maintenance and inspection of various vehicles. The app provides a summary of various situations, such as repairs and compliance with inspection criteria for vehicles, and allows users to share information with each other. In early April, General Motors filed for patent for a permanent, instantaneous routing system. Using blockchain, the system integrates data received from car sensors and creates a reliable map for driverless cars. BMW also plans to offer its blockchain supply chain solution to 10 different suppliers this year.