Haider Jamal

Jul 24, 2024

Toyota Plans To Adopt Ethereum Blockchain Technology For Its Vehicles

Toyota is investigating the potential of integrating Ethereum blockchain technology into its vehicles. The move comes right after the United States Securities And Exchange Commission recently approved several spot Ethereum ETF applications.

Creating A MOA

According to the announcement, Toyota intends to incorporate the Ethereum blockchain into its vehicles and is planning to create a Movement Oriented Account (MOA) using the ERC-4337 standard.

Toyota Blockchain Lab aims to develop an MOA (Mobility Oriented Account) based on Ethereum ERC-4337 to ensure the account&39s maintenance even if the private key is lost. The development of the MOA tool using the ERC-4337 standard is aimed at advancing towards fully autonomous driving in the future.

Exploring New Ways

Company representatives referred to such a blockchain account as a MOA (Mobility-Oriented Account). Based on the widely adopted Account Abstraction standard ERC-4337 in Ethereum, Toyota is actively exploring new ways on how to effectively design MOA. Toyota Blockchain Lab also expressed interest in receiving new proposals through the Ethereum community, including EIP-7702.

Ethereum remains a widely popular choice among car manufacturing companies because its blockchain technology offers robust security, transparency, and the ability to create decentralized applications. These features are appealing for integrating smart contracts and managing data securely across complex supply chains and vehicle ecosystems.

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