Ford and Toyota are leading the way in the development of blockchain-based vehicle technology, as evidenced by recent patent filings. In the second quarter of 2024, these automotive giants collectively filed at least 43 blockchain-related patents, showcasing their commitment to innovation. Despite a decrease in overall industry patent filings in Q2, Ford and Toyota stood out by increasing their filings significantly. Ford went from three patents in Q1 to 14 in Q2, while Toyota increased from 25 to 29 patents. The focus on blockchain technology by these companies is evident in their recent patents, which address various industry concerns. Ford's patent aims to provide immutable providence for vehicle ownership through smart contracts, while Toyota is exploring an internal blockchain system for managing NFTs related to its vehicles. This shift towards mature blockchain technology could give Ford and Toyota a competitive edge, especially in the realm of autonomous vehicles. Read more AI-generated news on: https://app.chaingpt.org/news