In times of global networking, information is exchanged faster than ever before. Blockchain technology offers people and companies the opportunity to connect more openly and securely.
This is because the decentralized system of a block chain means that information on "what", "when" and "who" can be recorded when data is created and cannot be changed later. For example, the authenticity of data in transactions can be verified tamper-proof. This enables individual services and improves business efficiency.
The first concrete application examples in the automotive industry are, for example, transactions for car purchase or rental as well as the management of vehicle data. Car sharing services can also benefit from the advantages of block chain technology.
In order to create benefits in other areas such as supply chains or mobility services, technical knowledge and solutions for implementation in the economy must be promoted. This is why Toyota Motor and Toyota Financial Services have created the joint virtual organisation Toyota Blockchain Lab, which was founded in April 2019 from six Group companies. It is intended to further expand cooperation with various partner companies in the future.
The announced "Woven City" will also play an important role in this. Toyota is building the city of the future on an area of 175 hectares at the foot of Mount Fuji in Japan. As a "living laboratory", technologies such as autonomy, robotics, personal mobility, smart home and AI will be tested and developed on site in a real environment. Initially there will be room for up to 2,000 people, whose number can be gradually increased over time. The ground-breaking ceremony for the model metropolis is planned for early 2021.