Porsche to Utilize Blockchain Technology

It was revealed that Porsche is currently testing blockchain applications in vehicles in collaboration with the Berlin-based start-up XAIN
27 February 2018   661

As it is widely known, blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic hash of the previous block, a timestamp and transaction data. By design, blockchain is inherently resistant to modification of the data.

It was recently revealed that Porsche is currently testing blockchain applications in vehicles in partnership with the Berlin-based start-up XAIN. Porsche will reportedly become the first automobile company to implement and test blockchain in car production.

As it was reported by News Room, through auditable data logging, the data to be processed is encrypted locally in a distributed blockchain. The user will control the data, deciding how to use it depending on the situation. All activities will be stored in the blockchain, making them transparent. The users can use the stored data, but it will be protected at the same time.

The start-up XAIN won the first “Porsche Innovation Contest” on the subject of blockchain in the summer of 2017. Currently, Porsche is working on applications for blockchain technology, which will be applied in the areas of charging and parking.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   119

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.