Since joining the distributed ledger consortium R3 in 2016, Toyota has been quiet about its strategy for blockchain tech – but if its presence at CoinDesk’s Consensus 2017 conference is any indication, that could soon change.
Announced yesterday exclusively at the conference, Toyota Research Institute (TRI) unveiled a three-pronged strategy that shows it believes blockchains will reshape interactions in the automotive supply chain.
The big reveal is bolstered by new details on months of behind-the-scenes work with partners including MIT Media Lab, BigchainDB, Commuterz, Gem and Oaken Innovations, all of whom are working with TRI on specific blockchain tech applications.
But going back further, though, Chris Ballinger, director of mobility services and chief financial officer at TRI, traces it all back to an “a-ha moment” that opened up his mind to the potential power of the technology and its possible applications for Toyota.
“Everybody’s journey has this common feature, they hear about it, they say how stupid, and then they meet someone who they respect and is smart and say maybe there’s something more to this, and that they learn more,” Ballinger said in a new interview.
Still, with a background as a monetary economist, Ballinger admits to being a bit predisposed to the idea that even
Read more ... source: CoinDesk
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