In the next 5 years, the German automaker Porsche AG via Porsche venture Ventures will increase investments in blockchain startups and other technology for 150 million euros ($176 million), “below to access trends, new technologies and business models.” Porsche of particular interest to the company on the stages of origin and development of the business model which is built around user experience, mobility and digital lifestyle.

According to the Deputy Chairman of the Board of Directors and member of the Executive Board Finance and IT at Porsche AG , Lutz Bag (Lutz Meschke), the company must fundamentally change the business model to continue its successful history. In a time when technology promotes innovation and is largely related to the current basic competencies, some of them are beyond its expertise, which leads to the need for a strong ecosystem with competent partners. For example, Porsche Ventures has become a partner of the Berlin blockchain project Gapless involved in the development of solutions for digital information management about vintage cars.

We will remind, in February it became known that, in cooperation with the Berlin startup XAIN, the company began testing blockchain technology in the Porsche Panamera. A little later, another German automaker – Audi – has begun testing the blockchain processing system processes associated with movements of goods and Finance, and was also considering issuing its own cryptocurrency. Carmaker Daimler AG has gone further and introduced the MobiCoin cryptocurrency that rewards drivers who have technical and safe “eco-driving”, i.e., smooth acceleration and braking and driving at low speeds.