Toyota Blockchain Lab will use Avalanche’s Multi-L1 Blockchain to launch a worldwide mobility network Mon-Prototype.
Summary
- Toyota’s Mon wants to put an end to fragmentation in mobility, safe -connecting car manufacturers, supervisors, insurers, service providers, who make payments and other transactions possible.
- Avalanche was chosen for sub-second finality, scalability and Multi-L1 support, causing Toyota Run Tailed to run, Interoperable Blockchains.
Toyota Blockchain Lab has unveiled details of his prototype of Mobility Orchestration Network (MON) that Avalanche (AVAX) used in a recently released Technical white paperDeveloped with technical advisory support from AVA Labs.
Mon is designed to take on an important challenge in mobility: fragmented ecosystems in which stakeholders work in Silos. The vision for Mon is to act as a trust -based infrastructure layer that secures various participants in the worldwide transport.
By using blockchain to verify and coordinate transactions, MON would enable transparent handling of important mobility functions, such as vehicle financing, ownership transfers, insurance claims, contracts for sharing journeys, EV loading payments and even carbon credit.
Why Toyota Blockchain Lab chose avalanche
Toyota chose Avalanche as the basis for his prototype because of its subsection transactions, scalability and interoperability. In contrast to other EVM-compatible block chains that are performed on a network with one low-1, Avalanche makes it possible to make several custom L1s that are interoperable but independent. With this architecture, companies such as Toyota can launch special block chains that are tailored to specific legal or business requirements, while still benefiting from the wider avaline ecosystem.
If the Ava Labs team commentary About the development: “Every other necklace is one lane. Avalanche is the highway.”
Avalanche has already authorized tokenized money market funds, private credit, shares and more than $ 6 billion in loans in chains. With Toyota’s Mon it is now entering the mobility space and it is intended to support the next generation of vehicle financing and services.
#Toyota #Blockchain #Lab #Taps #Avalanche #global #mobility #network #prototype