According to the Automotive News Network, Toyota Research Institute, a wholly owned subsidiary of Toyota North America Motors, said on Monday that it has cooperated with the MIT Media Lab and five other high-tech companies to jointly develop autonomous driving. The blockchain technology involved in automobiles.
Toyota stated in the statement that the project will enable companies and consumers to safely share test and driving data and set premium rates for these vehicles.
Blockchain technology is an open distributed ledger and was first known to the public thanks to the availability of Bitcoin, the first digital currency. Toyota’s database for this project will also use this technology.
The increasing computing power of cars is paving the way for self-driving cars, creating new competition and business opportunities for technology companies and car manufacturers.
Chris Ballinger, head of travel services and chief financial officer of the Toyota Research Institute, said: "In order to develop a safe and reliable self-driving car, we need to collect billions of miles of manual driving data."
He said: "Blockchain and distributed account technology can collect data from vehicle owners, fleet managers and manufacturers, thereby reducing the time to achieve this goal."
In addition to the MIT Media Lab, the project partners include the Berlin database company BigchainDB. Oaken Innovations, which develops car sharing and payment apps, has companies in both Dallas and Toronto. Israeli start-up company Commutez, who develops carpooling software.
Toyota also plans to reduce car insurance rates through blockchain technology. By allowing car sensors to collect driving data and store it in a blockchain, car owners may qualify for lower insurance costs because blockchain technology can provide transparency for their insurance companies to reduce insurance fraud.
In-ear Wired Earphones, they are small and comfortable and simple, fit in just about any pocket,and they provide great sound that literally goes straight into your ears,bring it on your next commute or run, or simply enjoy it in the comfort of your time.
Earbuds With Removable Cable,Earphones With Replaceable Cable,Stereo In-Ear Earphones,In-Ear Wired Headphones
Dongguang Vowsound Electronics Co., Ltd. , https://www.vowsound.com