Illustration Photo: Toyota FCV Plus Concept presented at Consumer Electronics Show 2016 (CES 2016)
Toyota Research Institute Explores Blockchain Technology for Development of New Mobility Ecosystem
The Toyota Research Institute (TRI) announced that it is exploring blockchain and distributed ledger technology (BC/DL) for use in the development of a new mobility ecosystem that could accelerate development of autonomous driving technology. TRI is collaborating with the MIT Media Lab (MIT ML) and other industry partners to foster a digital environment where users – both businesses and consumers – may securely share driving and autonomous vehicle testing data, manage ride-share and car-share transactions and store vehicle usage information that could be used in the setting of insurance rates.
Blockchain technology sends information over a network of independent computers, known as a distributed ledger, intended to ensure that the transaction is secure and ownership rights over the data/property are protected. TRI believes blockchain may create transparency and trust among users, reduce risk of fraud and reduction or elimination of transaction costs, such as fees or surcharges applied by third party institutions.
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