Toyota Blockchain Lab to expand cooperation and initiatives

Toyota Motor Corporation (Toyota) and Toyota Financial Services Corporation launched a cross-Group virtual organization, Toyota Blockchain Lab, in April 2019, which has moved forward with initiatives for using blockchain technology including, to date, verifying the usefulness of the technology through demonstration trials, and global collaboration with Group companies. In an era when all things and services will be connected by information, blockchain is expected to be a fundamental technology that supports connecting people and businesses more "openly," in a manner that provides safety and security.

Going forward, to further pursue possible uses in a wide range of areas, including supply chains, mobility services, and "Woven City" announced on January 7, 2020, and create new value in the future, the accumulation of technical knowledge and promoting solutions for implementation in business, is now necessary. In this regard, Toyota Blockchain Lab will expand collaborations more than ever with various partner companies. The cooperation will include uses of Blockchain 

The progress of the IoT has connected various things and services through information and brought greater convenience and efficiency. On the other hand, it has increased the importance of responding to security concerns such as information leakage, tampering, and unauthorized use.