German automaker Porsche will increase its investments in startups by around 150 million euros, or $176 million, over the next five years, including companies focused on blockchain technology.

“To continue building on the success that we have enjoyed over the past few years, we must fundamentally change our business model,” Porsche Deputy Chairman Lutz Meschke said in a press release.

One of those investments is in the Berlin-based company Gapless, which “allows customers to digitally manage their vintage vehicles, including the entire vehicle history, and share this information with other users in a secure format that prevents forgery,” according to Porsche. To do this, Gapless is creating a blockchain technology “designed to maintain or increase the value of collector’s pieces.”

 

ThirtyK Staff
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