News Toyota Announces Blockchain Push

Toyota Announces Blockchain Push

The Toyota Research Institute and MIT Media Lab have announced a number of new projects related to blockchain technology. “Hundreds of billions of miles of human driving data may be needed to develop safe and reliable autonomous vehicles,” said Chris Ballinger, director of mobility services and chief financial officer at Toyota’s research institute. “Blockchains and distributed ledgers may enable pooling data from vehicle owners, fleet managers, and manufacturers to shorten the time for reaching this goal, thereby bringing forward the safety, efficiency and convenience benefits of autonomous driving technology.”

Partners in the projects include startups BigchainDB, Oaken Innovations, Commuterz and Gem, which will help Toyota create blockchain-based apps and application architecture.

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