Will the blockchain technology provide the security needed for autonomous driving? Image source: Shutterstock (#516625030)
Toyota Motor North America’s subsidiary, Toyota Research Institute has teamed up with MIT Media lab and five other companies in an effort to explore blockchain technology for the development of autonomous cars. According to Toyota, this project will enable the consumers and businesses to share data on testing and driving in a secure way along with sharing and usage of such cars to help set insurance rates. “Blockchains and distributed ledgers may enable pooling data from vehicle owners, fleet managers, and manufacturers to shorten the time for reaching this goal. Hundreds of billions of miles of human driving data may be needed to develop safe and reliable autonomous vehicles,” Chris Ballinger, Toyota Research Institute’s director of mobility services and CFO, said. Other partners include Berlin-based Bigchain DB, Dallas and Toronto-based Oaken Innovations and Israeli startup Commuterz. These companies will develop technologies such as database building, app development for car-sharing and payments and a car-pooling software, respectively.
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