Toyota Motor Corporation, together with Toyota Financial Services, established an organization and group in April 2019 to move forward with the new technologies called the Toyota Blockchain Lab.
“Going forward, to further pursue possible uses in a wide range of areas, including supply chains, mobility services, and “Woven City” announced on January 7, 2020, and create new value in the future, the accumulation of technical knowledge and promoting solutions for implementation in business, is now necessary. In this regard, Toyota Blockchain Lab will expand collaborations more than ever with various partner companies.”
Uses of blockchain technology
Expansion of activities
“In the automotive industry, during a once-in-a century period of profound transformation, Toyota is aiming to become a “Mobility Company” that provides wide-ranging services related to transportation. In realizing this goal, to promote “making friends” both inside and outside of the Group, it is important to create an environment where customers who use products and services and various businesses that provide them can connect more “openly” under “safety and security.”
“With features such as highly tamper-resistant and fault-resistant, blockchain technology can realize secure data sharing between various parties by improving the reliability of information. This technology has the potential to support the creation of friends inside and outside the Group, and as a result, provides more convenient and customized services to customers, business efficiency and improvement, and creating new value that is not bound by existing concepts.”
Toyota Blockchain Lab engages in global collaboration with group companies including Toyota Research Institute – Advanced Development, Inc. (TRI-AD), TOYOTA Connected Corporation, and Toyota Motor North America, Inc.
“In the following initiatives focused on customers and vehicles, demonstration trials under specific conditions were completed in November last year, confirming the usefulness of blockchain technology in each use application.”
Toyota Blockchain Lab wants to expand and move forward
- Through new collaborations with different partner companies.
- Using Blockchain technology.
- Accelerating and increasing the initiative to implement this type of business.