Toyota, the world’s largest automaker, is further investigating blockchain technology applications by supporting a Web3 hackathon on the multi-chain smart contract network Astar Network, which might result in management tools for Toyota’s staff.
Toyota will be able to make business decisions and manage teams more effectively thanks to the development of an intracompany decentralized autonomous organization (DAO) support tool on the Astar Network, one of the first parachains to join the Polkadot ecosystem. “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, in a statement.
While this is still in the exploratory phase, blockchain technology in automobiles is a possibility of the future; he further added, “If a good tool is produced, Toyota employees will interact daily with Astar Network.”
Astar Network and connection in Japan
Shun Ishikawa, chief operating officer at Astar Network, told a media publication that the Japanese market is “unique” on account of “its inherent language and cultural differences.” Further, he said, “Entering and doing business in the Japanese market is very different from doing it in other countries.”
Sota Watanabe, the founder of Astar, is a native of the nation. According to Isikawa, the team collaborates closely with leading Japanese businesses and government officials to advance Astar’s position as a market leader in the Japanese blockchain industry.
In a non-scientific Twitter survey conducted by the Japan Blockchain Association (JBA) in December, 332 participants said they would prefer to utilize Astar above the competing chains Polygon, Solana, and Avalanche. The JBA selected it as the “product of the year” for 2022. The JBA named Watanabe their “person of the year.”