Toyota has partnered with Polkadot’s leading para chain—Astar Network—to devise Web3 use cases for the company.
According to an official press release shared with CryptoPotato, the car giant is looking to embrace the Web3 space to improve operations. The latest online hackathon is expected to serve as an initial step in that process and open doors for potential partnerships between Enterprise Ethereum Alliance (EEA) startups and major corporate clients like Volkswagen.
During the event, developers worldwide will be invited to build an intra-company DAO support tool on Astar Network. The theme of this project is for anyone to create teams and issue governance tokens without requiring them to understand Web3 details—allowing any company, large or small utilize its features.
The automotive manufacturer could use the tools developed during the hackathon for operational transparency and efficiency. Astar Network, on the other hand, will provide developers with a place to work together and provide product development support.
Astar Network and Toyota believe they can manage future projects as decentralized autonomous organizations—communities where decision-making is distributed among participants.
Astar Network and Toyota believe they can manage future projects as decentralized autonomous organizations—communities where decision-making is distributed among participants.
“Needless to say, Toyota is the largest company in Japan and one of the world’s leading international companies. We are very excited to be hosting the Web3 Hackathon on Astar with Toyota. During the event, we aim to develop the first Proof-of-Concept DAO tool for Toyota’s employees. If a good tool is produced, Toyota employees will interact daily with Astar Network.”
“Transform Your Fleet with Astar’s XVM Product”
Astar launched the Cross-Virtual Machine (XVM) earlier this month, a tool that enables developers to create applications that interact with smart contracts on different blockchains.
This was the first major product announcement of its 2023 strategy, allowing developers to build complex applications with various use cases. Such as proving ownership of digital assets
Astar Network and Alchemy teamed up to develop Web 3.0 applications on the Polkadot platform last summer.
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