Bitcoin seems to be everywhere in the news lately. What’s more interesting is the technology that underpins it. Known as the blockchain, it stands to revolutionize nearly anything that can be transaction-based, from purchasing stocks to more tangible things like real estate — and now, even car ownership. Will a similar model make its way to your New England Porsche dealership?
The intersection of blockchain and automobile comes to us via Porsche Zentrum Zug, a Swiss Porsche dealership located in the heart of Switzerland’s “Crypto Valley,” roughly a half hour south of Zurich. The dealership is collaborating with TEND, a Swiss-based Etherium exchange, to offer shared ownership of a 1956 Porsche 356A, a legendary predecessor to the Porsche 911.
Why is Porsche of Nashua paying such close attention to goings-on at a Swiss Porsche dealership? The classic Porsche roadster is only half the equation. The blockchain promises an ironclad transaction history, holding each shareholder in the car responsible for their part of the use, upkeep, and maintenance of the vehicle.
This is exciting on multiple levels. For one thing, it’s a way to put individuals who couldn’t otherwise afford the steep cost of owning a classic Porsche model their own chance to get behind the wheel. For another, as autonomous vehicles and ride sharing change the nature of driving and of car ownership, a service like this has the chance to plug a vital gap in the marketplace; we could easily envision a number of players, including collectors’ clubs, Porsche dealerships, and others, adopting this model.
The pace of change in the auto industry can seem glacial — until, of course, it isn’t. This could well be an opening salvo in a trend that ripples throughout the industry. Given the disruptive and innovative nature of new Porsche cars throughout their history, it couldn’t be a more natural fit.
Porsche Nashua may not take Bitcoin or Etherium, but we’re still your best destination for your next performance car. Why not visit us at 170 Main Dunstable Road today?