Toyota Motors Takes Step Forward with First Web3 Hackathon

Toyota Motor, a leading automotive manufacturer, has collaborated with Japan-based layer-1 blockchain, Astar Network, to host its first Web3 hackathon.

The hackathon will focus on developing a Decentralized Autonomous Organization (DAO), which will act as a support tool for in-house projects.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

How Does Cryptocurrency Work? (Explained with Animation)

SUBSCRIBE

ON YOUTUBE

According to Astar Network’s official announcement, the hackathon will take place from February 14th to March 25th, 2023.

The announcement also stated that the event participants will develop their products on the Astar Network. The hackathon will be hosted in Astar’s Polkadot-based metaverse, COZMISE.

Reportedly, the hackathon winner will receive $100,000 worth of prizes, with Astar Network providing the product support. Per the announcement, the winner will be selected by Toyota.

Sota Watanabe, the founder of Astar Network, expressed excitement about the potential for blockchain integrations in cars and Toyota’s role in leading the way with the hackathon.

We are very excited to be hosting the Web3 Hackathon on Astar with Toyota. During the event, we aim to develop the first PoC DAO tool for Toyota’s employees. If a good tool is produced, Toyota employees will interact daily with products on Astar Network.

With 70 applications already developed on Astar Network in only 10 months, the hackathon is a significant step in Toyota’s journey to improve its operations through web3 technology, the founder stated.

According to Watanabe, this event will bring together Japan’s leading L1 blockchain firms to enterprise relationships and web3 engineers to create a global platform originating from Japan.