Infineon, Xain Partner to Develop Blockchain Applications for Cars

© Reuters.   Infineon, Xain Partner to Develop Blockchain Applications for Cars © Reuters. Infineon, Xain Partner to Develop Blockchain Applications for Cars

Infineon Technologies AG, a German manufacturer of semiconductors, partnered with XAIN to develop and implement blockchain applications into cars. XAIN, a Berlin-based blockchain startup, signed a memorandum of understanding (MOU) with Infineon at the latter’s first Automotive Cybersecurity Forum, held last week. During the event, the two entities presented the concept of a smartphone application that can give access rights in a decentralized manner. Such an app can be used for car sharing.

Along with this use case, blockchain can be brought to cars through applications related to automated payments, on-demand services, automated driving features, and tuning protection among others. At the core, it is about offering access rights, whether to the vehicle itself or specific data inside it. A relevant example involved the access rights to vehicle data is when insurance firms provide discounts for clients with good driving habits. Since everything is about data, security should be prioritized.

Peter Schiefer, the …

This article appeared first on Cryptovest

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