Porsche, the world famous luxury car manufacturer recently went on an interview where it made it clear that it wants to get involved with the cryptocurrency world. Not only that, but Porsche said that Ripple (XRP) is the cryptocurrency which grabbed its attention.
This is going to make Porsche the first car manufacturer to implement cryptocurrency and blockchain technology in its top of the line vehicles.
Partnership with XAIN
The most important thing that we take from this recent announcement is that Porsche will be partnering with XAIN. XAIN is a Berlin-based startup that focuses on expanding the utility of cryptocurrency and blockchain technology based applications alongside other novel-implementations.
Moreover, XAIN is believed to develop a brand-new blockchain based technology which will be solely focused on vehicles. In addition, XAIN might decide to choose Ripple (XRP) as an established cryptocurrency.
Why Porsche Might Want to Partner with Ripple (XRP)
With that being said, the possibility of Porsche teaming up with Ripple (XRP) is high, especially when considering how many market utilities Ripple (XRP) brings to the table. In fact, let’s check out the top two reasons why Porsche might want to partner with Ripple (XRP).
The first and most important reason to why Porsche might consider partnering with Ripple (XRP) is because this cryptocurrency has nonexistent fees. The only fee that is charged per transaction is “0.00001 XRP”. This is one of the things that makes Ripple (XRP) special because other cryptocurrencies require miners to process transfers which charge fees in return.
Fast Transaction Times
The second reason why a partnership between Porsche and Ripple (XRP) is highly likely is because Ripple (XRP) transfers are super fast. Most cryptocurrencies have an average confirmation time of ten minutes, but this is not the case for Ripple (XRP). Just like Porsche’s cars, Ripple (XRP) is incredible fast and it confirms transactions in under five seconds.