Toyota uses the Astar network for the Web3 hackathon
Japan’s largest conglomerate – Toyota Motor Corporation – will sponsor the world’s first Web3 hackathon. Polkadot’s leading parachain, Astar Network, was leveraged to create Web3 use cases for Toyota employees.
According to the official press release shared with CryptoPotato, the automotive giant is looking to embrace the Web3 space in a bid to improve business operations. The latest online hackathon should serve as the first step in the process.
Toyota – Astar Web3 Hackathon
As part of the event, developers from all over the world are invited. The theme will be to create an intra-company DAO support tool on the Astar network to allow anyone to create teams, issue governance tokens and vote without asking them to understand the details of Web3.
While the multinational automaker could use the tools developed during the hackathon for the purposes of operational transparency and efficiency. Astar Network, on the other hand, will provide the necessary environment for developers and will be responsible for product development support.
Both Astar Network and Toyota said they believe they can run projects as DAOs, where decision-making is distributed among participants.
Following the announcement, Sota Watanabe, the founder of Astar Network, noted that blockchain integrations in cars will happen in the near future. The executive also said that while the industry is still at an exploratory stage, he is “very excited about the different possibilities”.
“Needless to say, Toyota is the largest company in Japan and one of the leading international companies in the world. We are very happy to host the Web3 Hackathon on Astar with Toyota. During the event, we aim to develop the first proof-of-concept CAD tool for Toyota employees. If a good tool is produced, Toyota employees will interact with Astar Network on a daily basis.
XVM product from Astar
Astar is a smart contract innovation hub that connects the Polkadot ecosystem to all layer 1 blockchains. Earlier this month it spear the Cross-Virtual Machine (XVM), allowing projects that rely on it to interact with other smart contract ecosystems.
It was the first major product of its 2023 strategy that will allow developers to explore multiple contract environments. The feature will also help in creating a variety of complex applications with many use cases, like proving ownership of digital assets, etc.
Meanwhile, Astar Network announcement a collaboration with blockchain company Alchemy last summer to accelerate Web3 development on the Polkadot ecosystem.
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