BlocksInform
Toyota Motor Corporation, along with Toyota Financial Services Corporation, unveiled its Toyota Blockchain Lab, March 16, comprising six Toyota Group companies. It explores the future of the auto industry.
Created in March 2019, Blockchain Lab is quietly exploring the potential of blockchain technologies since 11 months, and is now working to accelerate business implementation initiatives and broaden strategic partnerships outside the group.
Toyota aims to become an "enterprise of mobility"
Toyota's declared goal almost year long incursion into blockchain technology is to shift the focus of the group towards becoming a more holistic "Mobility Company," providing a wide range of transport-related platform.
To do so, he plans to use blockchain to develop an environment in which users can connect more openly and still safely with the companies that provide them with services.
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To this end, Toyota Blockchain Lab reportedly conducted survey studies and test projects, including a phase that was completed in November 2019.
Primary purpose applications have been identified in the areas of customer and vehicle auditing, as well as supply chain surveillance and asset digitization to diversify the range of funding methods available.
Today's announcement underscores the organization's hope that it will further develop its implementation initiatives and leverage its strategic partnerships with companies both inside and outside the group.
Furthermore, the laboratory plans to accelerate the social implementation of various blockchain platforms around the world.
As Cointelegraph has reported, Toyota has long been a player in the blockchain space, becoming part of the R3 consortium of global banks and corporations in 2016.
