Avalanche and Toyota Blockchain Lab are planning the future infrastructure needed for a self-developed, autonomous robotax fleet, highlighting another emerging use case for blockchain technology in the future of transportation.
Avalanche and Toyota are investigating the creation of a new blockchain layer to “assemble trust and unlock the value of mobility” through a blockchain-based intermediary network called the Mobility Orchestration Network (MON).
Built on Avalanche's multichine infrastructure and interchain messaging (ICM), proof of concept aims to streamline secondary market ownership transfers while enabling secure data sharing for vehicle financing, ride comfort, insurance and carbon credit tracking.
Avalanche and Toyota's upcoming Mon Network will open a gateway to new emerging cases that include future implementations of the fully autonomous Robotaxi fleet, according to Roi Hirata, head of Japan at Ava Labs, behind the development of the Avalanche network.
Moneyize mobility on blockchain. sauce: Toyota-blockchain-lab.org
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Robotaxis is one of the network's most interesting new use cases, he said.
“Payment, lease, you can actually start your own Robotaxi service by raising on-chain funds using some kind of security token system.”
Investors will be able to raise funds through blockchain and track Robotaxis. This means that the entire business model can be built on-chain “from scratch.”
Toyota – the great ancestor of Japanese automobiles – is exploring the blockchain in depth and publishes a deep research paper at @avax.
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Robotaxi infrastructure still needs manufacturers and regulators
Regulators and manufacturers will still need to board to realize the future vision of a fully autonomous Robotax fleet, making manufacturers more difficult parties on board.
According to Hirata of AVA Labs, regulators and automakers will need to work together to enable official recordkeeping via blockchain ledgers and enable use cases such as Onchain's ownership transfer.
“There is always an official record in different countries and different formats, so working together on blockchain is the most important task that manufacturers need to work on.”
Meanwhile, following the latest proof of concepts from Toyota and Avalanche, token mobility could emerge as the next important trend for cryptocurrency investors.
Mobility remains difficult to track vehicles, and future use cases will require “many systems” and distributed applications to support its tokenization.
Other companies are also based on the real world assets (RWA) tokenization capabilities of the avalanche blockchain.
Grove, an institutional-grade credit protocol backed by Steakhouse Financial, is working with $373 billion asset manager Janus Henderson to cover $250 million worth of tokenized RWA on the avalanche network.
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