{"id":42986,"date":"2023-02-01T09:18:55","date_gmt":"2023-02-01T09:18:55","guid":{"rendered":"http:\/\/egrowonline.com\/?p=42986"},"modified":"2023-02-01T09:18:55","modified_gmt":"2023-02-01T09:18:55","slug":"toyota-to-explore-blockchain-use-cases-via-dao-hackathon","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=42986","title":{"rendered":"Toyota to explore blockchain use cases via DAO hackathon"},"content":{"rendered":"


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Automotive giant Toyota is delving deeper into blockchain use cases through its involvement with a Web3 hackathon for decentralized autonomous organization (DAO<\/a>) developers.<\/p>\n

On Feb. 1, multichain smart contract and decentralized application (DApp) network Astar announced<\/a> its inaugural Web3 hackathon. The news of note, however, was that it\u2019s being supported by the Toyota Motor Corporation.<\/p>\n

Astar Network founder Sota Watanabe commented on the significance of Toyota\u2019s involvement in the initiative:<\/p>\n

\u201cDuring the event, we aim to develop the first PoC (Proof of Concept) DAO tool for Toyota\u2019s employees. If a good tool is produced, Toyota employees will interact daily with products on Astar Network.\u201d<\/p><\/blockquote>\n

It\u2019s Toyota\u2019s first Web3 event as the multinational vehicle company looks to emerging technology to \u201csupport its vision of improving the company\u2019s operations,\u201d the announcement noted.<\/p>\n

The Astar Foundation is pledging $100,000 in funding for the event, which will go toward rewards for winning projects selected by Toyota.<\/p>\n

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Finally!
We\u2019re incredibly excited to announce\u2026<\/p>\n

The !<\/p>\n

Learn how the world\u2019s largest car company is building on Astar:https:\/\/t.co\/xDLE6XPwsx<\/a><\/p>\n

\u2014 Astar, Future of Smart Contracts for Multichain (@AstarNetwork) February 1, 2023<\/a><\/p><\/blockquote>\n

Event participants will develop all of their products on the Astar Network, a Japan-based layer-1 blockchain. The hackathon will be hosted in Astar\u2019s Polkadot-based metaverse, COZMISE.<\/p>\n

Related:<\/em><\/strong> <\/em><\/strong>BMW taps Coinweb and BNB chain for blockchain loyalty program<\/em><\/strong><\/a><\/p>\n

It is not the first time Toyota has dabbled in crypto and the blockchain. In 2020, the IT division of the automotive giant teamed up with Japanese crypto exchange DeCurret to develop a Toyota-branded digital token<\/a>.<\/p>\n

Toyota established a blockchain lab<\/a> in 2020 to explore the future of distributed ledger technology and its role in the automotive industry.<\/p>\n

Astar (ASTR) prices surged 10.5% on the news to trade at $0.06 at time of writing. The token has gained 53% over the past month but remains down 86% from its all-time high.<\/p>\n<\/div>\n


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Automotive giant Toyota is delving deeper into blockchain use cases through its involvement with a Web3 hackathon for decentralized autonomous organization (DAO) developers. On Feb. 1, multichain smart contract and decentralized application (DApp) network Astar announced its inaugural Web3 hackathon. The news of note, however, was that it\u2019s being supported by the Toyota Motor Corporation. […]<\/p>\n","protected":false},"author":1,"featured_media":42987,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[73,1072,1447,2130,5002,13654],"class_list":["post-42986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-blockchain","tag-cases","tag-dao","tag-explore","tag-hackathon","tag-toyota"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/02\/ecd1fe43-56e5-42eb-b033-daa59f3e397d.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42986"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42986\/revisions"}],"predecessor-version":[{"id":42988,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/42986\/revisions\/42988"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/42987"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42986"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}