Asia’s largest car maker is high on Ethereum
Japanese car maker Toyota’s blockchain research arm is exploring how Ethereum can contribute to its “mobility” campaign.
This campaign focuses on the company’s futuristic concept of a connected transportation system where vehicles are fully autonomous and capable of communicating with public infrastructure through data exchange. These autonomous vehicles are envisioned as public entities that provide services to all users, including the disabled and elderly.
Toyota envisions future vehicles as public entities and infrastructure. (Toyota Blockchain Lab)
In a research paper published on July 19, Toyota proposed implementing blockchain technology as part of its “mobility” concept.
It sees blockchain as enabling automation through programmability, much like how smart contracts on Ethereum automatically execute agreements without intermediaries.
Blockchain would also bring a standardized interface that connects to other services. For example, in the automotive industry, blockchain could facilitate automated payments for tolls or parking fees directly from the vehicle’s wallet.
And by tokenizing rights, vehicles can be transformed into service entities. This is akin to how digital rights can be managed in the music industry, where non-fungible tokens (NFTs) represent ownership and usage rights of digital assets.
But to achieve this, a blockchain account is required, and private keys can be lost to unexpected incidents like device failures.
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