Avalanche and Toyota Blockchain Lab Collaborate on Future Infrastructure for Robotaxi Fleets
Avalanche and Toyota Blockchain Lab are collaborating to develop the necessary infrastructure for self-deployed, autonomous robotaxi fleets, showcasing another innovative application of blockchain technology in the transportation sector.
The two companies are exploring the establishment of a new blockchain layer aimed at “orchestrating trust and unlocking mobility’s value” through a blockchain-based intermediary network known as the Mobility Orchestration Network (MON).
Utilizing Avalanche’s multichain infrastructure and Interchain Messaging (ICM), this proof-of-concept seeks to facilitate secure data sharing for various purposes, including vehicle financing, ride sharing, insurance, and carbon credit tracking, while also simplifying ownership transfers for secondary markets.
According to Roi Hirata, head of Japan at Ava Labs—the company responsible for developing the Avalanche Network—the anticipated MON network will pave the way for new use cases, including the eventual deployment of fully autonomous robotaxi fleets.
“Robotaxis are one of the most captivating emerging use cases for the network,” he remarked on Wednesday. “Investors will be able to raise their funds and track their robotaxis via the blockchain, which means the entire business model can be built onchain ‘from scratch,’” Hirata stated.
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Toyota, the well-known Japanese automobile manufacturer, is keenly investigating blockchain applications and has previously released an in-depth research paper in collaboration with @avax.
For the vision of fully autonomous robotaxi fleets to come to fruition, collaboration between regulators and manufacturers is essential, with manufacturers presenting a greater challenge in the onboarding process.
According to Hirata from Ava Labs, “Regulators and carmakers need to work together to enable official record-keeping via blockchain ledgers and to facilitate use cases such as onchain ownership transfers.”
He further noted that tokenizing mobility may emerge as a significant trend for cryptocurrency investors, following the recent proof-of-concept initiated by Toyota and Avalanche. Tracking mobility for vehicles has historically been complex, and prospective applications will necessitate “lots of systems” and decentralized applications to support its tokenization.
Other companies are also leveraging the Avalanche blockchain’s capabilities for real-world asset (RWA) tokenization. For instance, Grove, an institutional-grade credit protocol backed by Steakhouse Financial, is aiming for $250 million worth of tokenized RWAs on the Avalanche network, in partnership with $373 billion asset manager Janus Henderson, as reported on July 28.
