March 29, 2024

Toyota is considering bringing Web3 to its business

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Toyota is considering bringing Web3 to its business

Japanese automobile corporation Toyota is looking for a development team that can implement Web3 in its operations.

To this end, Toyota will support a Web3 hackathon for developers of decentralized autonomous organizations (DAOs), which is holdingAstar is a developer of a network of smart contracts and decentralized applications (dApps).The winners, who will be determined by Toyota itself, will receive $100,000 for the development of their project.

According to the founder of Astar, Sota Watanabe, during the hackathon, the company intends to develop a toolDAO PoC (Proof-of-Concept) for Toyota employees.use it when working with Astar products.

"In recent years, Toyota has faced the challenge of increasing the workload of managers due to the increased number of new projects and the growth of the team.That's why we chose the DAO as a topic for development – we believe that with the help of a DAO, it is possible to organize activities within the firm efficiently and quickly," writesWatanabe.

Toyota is now looking for technologies that would help the car manufacturer in the future.The hackathon will take place in the Astar metaverse, and when developing their products, participants willUse the company's first-layer blockchain.

Earlier, the American manufacturer of graphics processors Nvidia published a forecast according to which in 2023 many automobile companies will use metaverses in their work.