Toyota creates the cryptocurrency

At the end of October, 2020 it became known of cooperation of Toyota Systems, IT Departments of Toyota Motor, with the Japanese cryptoexchange DeCurret within which the companies will be engaged in development of digital currency for Toyota.

2500 employees of Toyota Systems will take part in a large-scale pilot project. Participants will be able to exchange digital currency on bonus points or gifts from the directory. Toyota Systems noted that the digital currency cannot be exchanged for the Japanese yens so far.

The new pilot project means use of the patented DeCurret blockchain platform for release of digital currencies and management of them. Organizers of the project intend to test scalability of peer-to-peer model on a blockchain and also the business questions connected with payments to big group of people.

Toyota in partnership with DeCurret creates the cryptocurrency

The Toyota Systems parent company actively studies the sphere of blockchain technologies, in March, 2020 it provided possess own Toyota Blockchain Lab. Within development of the business in accumulators for electric vehicles the company organized testing of blockchain technology for identification, advertizing, bond issue and trade.

Thanks to such functions as high degree of protection against unauthorized access and fault tolerance, blockchain technology can provide safe data exchange between the different parties due to reliability augmentation of information, - note in Toyota Motors.

The Decurret cryptoexchange already cooperates with Daido Life and Kansai Electric Power insurance companies, giving them opportunities for start of own digital currencies. Decurret also organized groups on studying of digital currencies in Japan, the central bank of Japan, the Ministry of Finance and Accenture took part in the educational project.^[1]

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