Toyota Announces Mobility 3.0 Update with Ethereum Blockchain
Toyota has revealed its latest mobility concept update, known as Mobility 3.0, which will incorporate elements of the Ethereum blockchain. The new project, MOA (Mobility-Oriented Account), will leverage blockchain technology to create digital accounts for Toyota vehicles.
Digital Accounts for Toyota Vehicles
The main goal of the MOA project is to establish digital accounts on the blockchain for Toyota vehicles. This initiative will pave the way for fully autonomous driving capabilities and enhance vehicle interaction with the environment using the Account Abstraction ERC-4337 standard. The implementation will allow vehicles to operate as self-sufficient service units, reducing the reliance on human intervention and processing all transactions securely on the blockchain.
Secure and Efficient Transactions
The MOA standard, based on ERC-4337, will ensure the security of vehicle accounts, even in cases of private key loss. This setup will enable comprehensive monitoring of vehicle usage, maintenance logs, and involve various stakeholders (drivers, owners, manufacturers, dealers, and authorities) in approving vehicle-related transactions.
Continuing Technological Advancements
This latest move by Toyota underscores its commitment to embracing cutting-edge technologies. Just last year, the company sponsored the Web3 hackathon Astar, aiming to collaborate with innovative developer teams to integrate Web3 technologies into its operations.
Enhancing Vehicle Management with Ethereum Blockchain
The integration of the Ethereum blockchain into Toyota’s vehicle management marks a significant step towards the advancement of autonomous vehicles and streamlined interaction with transportation service ecosystems.
