Toyota Motor Corporation and Toyota Financial Services Corporation officially launched the Toyota Blockchain Lab. The laboratory has been silently exploring the future of the automotive industry as early as April 2019.

 To achieve its goal of becoming a "mobile company," Toyota intends to use blockchain technology to develop an environment that allows users to more openly and securely connect with Toyota and its services. The Blockchain Lab highlights Toyota's hope for further strategic partnerships with external companies.

The Japanese BUIDL company that cooperated with Toyota announced on March 16 that the blockchain platform demonstration experiment with Toyota Financial Services has been completed. It is reported that the platform aims to establish personal ID, vehicle ID and ID cooperation.

Toyota has long been a participant in the blockchain field and became a member of the R3 chain alliance in 2016.

In 2017, Toyota Research Institute of Toyota Motor has joined MIT (Massachusetts Institute of Technology) Media Lab and 5 companies to conduct research on the combination of blockchain technology and autonomous vehicles. Toyota has gathered a number of partners specializing in various technical areas of the blockchain (such as distributed, encrypted ledger technology that supports the operation of Bitcoin) to jointly study how to transplant this technology into the automotive industry.

Toyota stated in a 2017 statement that the project will open a common database to car companies and users, and everyone can safely write and share data in the database, including data on test and driving records of autonomous vehicles. And the use data of users of autonomous driving shared travel, for example, applications such as pricing of insurance for the autonomous vehicle industry.

The construction of this database will use blockchain technology.

"Hundreds of billions of kilometers of human driving data are likely to be used for the development of safety and comfort in autonomous vehicles," Chris Ballinger, head of mobile mobility and chief financial officer at Toyota Research said in a statement. "Blockchain and Distributed accounting technology will effectively process massive and mixed data from private car owners, fleet managers and car manufacturers, and help to reach the goal of autonomous driving research and development faster, in this way to improve the safety of autonomous driving technology , Efficiency and comfort. "

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