coinedition.com
The world’s largest automaker, Toyota, is conducting an empirical investigation into the applications of blockchain technology. As part of this effort, the company sponsors a Web3 hackathon on the multi-chain Smart contract network Astar Network.
On Astar Network, one of the first parachains to join the Polkadot ecosystem, developers are planning to create a support tool for intracompany decentralized autonomous organizations (DAOs).
Toyota will be able to make better decisions for their company and manage their teams more effectively with the help of this solution. “During the event we aim to develop the first proof-of-concept DAO tool for Toyota’s employees,” said Sota Watanabe, the founder of Astar Network, in a statement.
Furthermore, Watanabe added,
If a good tool is produced, Toyota employees will interact daily with Astar Network, while this is an exploratory stage, blockchain technology in cars are possible in the future.
This is not the first time Astar has worked with a major Japanese corporation. NTT Docomo, the most extensive mobile phone network in Japan, announced in November that it would join with the Astar Foundation and Accenture to speed up the adoption of Web3.
On the other hand, Toyota has been exploring the possibilities presented by blockchain technology for some time now. The multinational automotive corporation announced in 2020 that many of its subsidiaries had formed a group to investigate the potential uses of blockchain technology within the automotive sector.
Since then, the automobile manufacturer has not made any significant technological advancements.