TOKYO, Wednesday, July 24, 2024- Toyota Motor Corp. is exploring the use of Ethereum blockchain technology to manage vehicle data and potentially transform how cars are owned and used.
“Toyota Blockchain Lab suggests developing a MOA (Mobility-Oriented Account) based on Ethereum ERC-4337 to ensure that the account itself can be retained even if the private key is lost. … They also look forward to more new proposals from the Ethereum community (including EIP-7702).” A Post on Platform X said. 1
The automaker is developing a system to represent vehicles as digital entities, or Mobility-Oriented Accounts (MOAs), on the Ethereum blockchain.
MOAs will store vehicle data, enabling features like car sharing, autonomous driving, and other connected services.
Toyota aims to improve car management, programmability, and ownership flexibility through this blockchain-based approach.
Toyota envisions a future where cars can function as independent service entities with rights managed digitally.
The company is also considering using non-fungible tokens (NFTs) to represent car access rights, enabling services like car sharing and delivery.
Toyota sees Ethereum’s community and its ongoing development as crucial to the project’s success, reports said.
- toyota-blockchain-lab.org: https://toyota-blockchain-lab.org/library/how-to-introduce-mobility-into-the-public-blockchain)[↩]
