History
2020: Creation of division
In the middle of March, 2020 Toyota announced that it created a blockchain division for deeper studying of opportunities of new technology.
Toyota Motor Corporation and Toyota Financial Services Corporation company were explained that "the virtual organization integrating different groups of researches" was created. The new division received the name Toyota Blockchain Lab and works since April, 2019 together with four other subsidiary companies of the Toyota group.
Staff of this division studies the most perspective approaches to application of a blockchain in automotive industry. In particular, they intend to check "usefulness of technology using demonstration tests and global cooperation with Toyota subsidiary companies".
 | It is expected that the blockchain will become fundamental technology which will provide open and safe consolidation of people and the enterprises, says Toyota. - Thanks to such properties as high degree of protection against cracking and fault tolerance, technology of a blockchain can provide safe data exchange between the different parties. |  |
Toyota intends to study further possible use of technology of a blockchain in several key areas, including supply chain management and creation of future values by "accumulation of technical knowledge" and "promotions of new solutions" in business.
Creation of new division became the next stage of continuous implementation of blockchain technologies in production Toyota. The company considers that an ultimate goal of this program will become creation of the platform which will be deeply integrated with technologies and the software of Internet of Things (IoT) and at the same time will increase security of supply chains.[1]
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Notes
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