Blockchain Start-up wins “Porsche Innovation Contest”

Starting from August 2017 Xain AG will start to collaborate with the German sports car maker Porsche to create a prototype of a blockchain-based application. The partnership started after the Porsche Innovation Contest where more than 100 start-ups and companies tried to demonstrate how to implement a blockchain-based solution within the automotive field.

Contest winner Xain AG received a € 25000 grant and the right to participate in the HHL Leipzig Graduate School of Management’s Accelerator Program. Xain AG focusses on the development of blockchain systems and provides solutions in the areas of AI, machine learning, and data analysis.

Martin Roth Vice President Strategy, Finances and Risk Management at Porsche said that the company aim to gain new perspectives on the disruptive potential of blockchain from the start-up scene. Leif-Nissen Lundbaek, CEO and co-founder of Xain AG looks forward to collaborate with Porsche to continue their pioneering work on blockchain technology.

The start-up will work three months on a pilot program that should lead to a blockchain-based prototype. This initiative shows how Blockchain technology is becoming widely studied and investigated across different industries.


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