Toyota Explores Blockchain to Digitize Vehicle Ownership

Toyota's Blockchain Lab is pioneering the use of blockchain technology to streamline vehicle ownership processes. The initiative focuses on creating a verifiable "Trust Chain" to manage registration, insurance, and maintenance through multi-party relationships recorded on-chain.

Last year, the lab introduced the Mobility-Oriented Account (MOA) concept, framing mobility as an abstract account. While innovative, the approach revealed complexities in capturing the full scope of relationships involved. The latest research shifts perspective, examining mobility through the lens of network dynamics rather than individual entities.

Blockchain's borderless nature offers transformative potential for real-world assets like vehicles. Yet commercial practices, regulations, and institutional frameworks remain significant hurdles. Toyota's work highlights both the promise and challenges of applying decentralized technology to traditional industries.