Apr 24, 2017
Collaboration with MIT Media Lab and other partners fosters open source software tools
Blockchain helps to securely share driving and autonomous vehicle testing data, manage ride and car share transactions and store vehicle usage information
(NEW YORK, May 22, 2017) — The Toyota Research Institute (TRI) announced today that it is exploring blockchain and distributed ledger technology (BC/DL) for use in the development of a new mobility ecosystem that could accelerate development of autonomous driving technology. TRI is collaborating with the MIT Media Lab (MIT ML) and other industry partners to foster a digital environment where users – both businesses and consumers – may securely share driving and autonomous vehicle testing data, manage ride-share and car-share transactions and store vehicle usage information that could be used in the setting of insurance rates.
Blockchain technology sends information over a network of independent computers, known as a distributed ledger, intended to ensure that the transaction is secure and ownership rights over the data/property are protected. TRI believes blockchain may create transparency and trust among users, reduce risk of fraud and reduction or elimination of transaction costs, such as fees or surcharges applied by third party institutions.
“Hundreds of billions of miles of human driving data may be needed to develop safe and reliable autonomous vehicles,” said Chris Ballinger, director of mobility services and chief financial officer at TRI. “Blockchains and distributed ledgers may enable pooling data from vehicle owners, fleet managers, and manufacturers to shorten the time for reaching this goal, thereby bringing forward the safety, efficiency and convenience benefits of autonomous driving technology.”