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Toyota Explores Using Blockchain For Business Efficiency By Sponsoring Web3 Hackathon

Milestone Date: January 31, 2023

Employee Engagement

Toyota is showing more interest in blockchain technology by sponsoring a Web3 hackathon on the EVM and WebAssembly (WASM)-compatible Astar Network. This parallel-chain network (aka parachain) is designed to use a cross-virtual machine (XVM) to offer cross-chain smart contract interaction with the Polygon public distributed ledger (a layer-2 DLT that runs on Ethereum).

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The goal of the hackathon is for participating developers to build an intra-company decentralized autonomous organization (DAO) support tool based on the Astar Network. The objective of the pilot is to leverage blockchain in a way that provides Toyota with more efficient business decision-making and team management. "During the event, we aim to develop the first proof-of-concept DAO tool for Toyota’s employees," said Sota Watanabe, the founder of Astar Network.

If a well-done tool is built, it would mean Toyota employees would interact with the Astar Network on a daily basis. "Toyota is looking to Web3 to support its vision of improving the company's operations, and this online hackathon is an initial step in the process," said a Toyota spokesperson.

By Elizabeth Morrison

Published:January 31, 2023


Blog Post

Announcing web3 Hackathon on Astar sponsored by Toyota Motor Corporation.

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