Toyota’s Blockchain Undertaking

Toyota’s Blockchain Undertaking

Automotive Companies Understand Potential of Blockchain

Remember a few weeks ago when we discussed how blockchain could truly impact self-driving cars? (Read about it here, if you didn’t get a chance to check it out!) Well, here’s a real-life example of it! Toyota has actually started implementing the technology in their autonomous vehicles, in two distinct ways.

First, it will help with data collection. In order to ensure safety with self-driving cars, a distributed ledger is ideal because millions of miles of data are required. Pooling of data  could then be used to shorten the time it takes to reach the goal of mass-produced, self-driving cars.

Second, it collects data for individual drivers, and actually gives them access to their information. From there, they’d have the choice of sharing their data with insurance companies, or keeping it to themselves. Blockchain gives back the power to the individuals.

Automotive Industry Welcomes Blockchain

Automotive Industry Welcomes Blockchain

For years, the automotive industry has been stuck in place. Long after you’d expect new innovations to be implemented in the industry, do they finally make it to the big stage. Researchers have conducted studies for decades surrounding cleaner fuel, moving towards the use of renewable energy resources. Even in 2017, owning and driving a renewable energy car is expensive and cumbersome.

E-85 fuel made a big splash when it entered onto the scene. It seems that we could naturally make our cars go, without drilling and causing further damage to the planet. Instead, cars are manufactured in such a way that it doesn’t matter if you use E-85 or not. So, most people choose to go with regular gasoline–something they already know.

Newer technologies, however, have emerged that have propelled the auto industry into modernization. Smart cars are starting to make it onto the road, and with them comes a lot of new technology.