Share this article
Porsche Names Winner of Blockchain Startup Contest
German automaker Porsche has revealed the winner of a blockchain startup competition first announced in April.
By Chuan Tian
Updated May 9, 2023, 3:03 a.m. Published Jun 21, 2017, 4:30 p.m.
German automaker Porsche has revealed the winner of a blockchain startup competition first announced in April.
As CoinDesk reported at the time, Porsche solicited entries from startups as part of a broader bid to explore how it might apply blockchain to its own business. The carmaker said today that more than 100 applicants entered the contest.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The winner is a startup called Xain AG, founded in February of this year and based in Germany. The startup is looking to apply blockchain to the industrial production process, leveraging artificial intelligence and machine learning in tandem.
Xain AG will receive a cash prize worth €25,000, as well as a spot in the HHL Leipzig Graduate School of Management's Accelerator Program.
Perhaps more notably, the startup and the automaker will work together on blockchain research starting in August. The collaboration will kick off with a three-month prototype development phase at SpinLab, a Leipzig-based accelerator backed by Porsche.
In statements, Porsche reiterated past statements that it wants to leverage the expertise of startups as it explores potential uses of the tech.
"We aim to gain new perspectives on the disruptive potential of the transaction system blockchain from the startup scene," Martin Roth, Porsche's manager for strategy, finances and risk management, said.
Porsche is not the only automaker that is trialling blockchain tech.
In May, Toyota unveiled a new internal research effort. And earlier this year, Daimler AG announced that it was joining the Hyperledger project, a blockchain development effort backed by the Linux Foundation.
Xain AG image courtesy of Porsche
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
