Self-driving technology challenges are difficult to solve, Ford and Toyota turn to blockchain

Although self-driving car technology is still a hot topic in the automotive industry, many companies have found that the technology implementation has been slow, leading many manufacturers to begin to seek new technological paths. Recently, two major automobile giants, Ford and Toyota, have increased their investment in blockchain technology and are trying to use this innovative technology to solve some key problems in the automobile industry.

According to data from GlobalData Patent Analytics and Just Auto, in the second quarter of 2024 alone, the two companies applied for a total of at least 43 blockchain-related patents, which is in stark contrast to the trend of stagnant development of autonomous driving technology. contrast.

According to the data, Ford’s blockchain patent applications increased from 3 in the first quarter to 14 in the second quarter, while Toyota increased from 25 to 29. These patents cover the application of blockchain technology in vehicle ownership, management systems, etc., showing the two companies’ ambitions in the blockchain industry.

Source: Just Auto Top 5 companies in terms of blockchain-related patent applications in the global automotive industry in the second quarter of 2024

Application of blockchain technology in the automotive industry

The blockchain patents filed by Ford and Toyota mainly focus on how to improve transparency and efficiency in the automotive industry.

A Ford patent "Decentralized management of vehicle ownership" shows that the company is developing a vehicle ownership management system based on blockchain. This system can automatically update vehicle ownership data through smart contracts and ensure that every transaction is Can leave an unchangeable record on the blockchain. This not only effectively prevents fraud, but also simplifies the vehicle buying and selling process.

Source: Google Patents Patent content applied for by Ford

On the other hand, Toyota has applied for a patent for an internal blockchain system "Server", which is mainly used to manage vehicle-related non-fungible tokens (NFT). This system can ensure that the vehicle status can be accurately recorded on the blockchain while the vehicle is being stored at the dealer, thus enhancing the transparency and reliability of vehicle circulation.

Source: Google Patents Patent content applied by Toyota

Is driverless technology encountering a bottleneck?

Although autonomous driving technology was regarded as the future trend of the automobile industry a few years ago, the current technological development process has obviously not met expectations. According to foreign media "Forbis", at a recent industry conference, the technical barriers to driverless vehicles are still difficult to break through, and many companies have shifted their focus to assisted driving technology rather than fully autonomous driving systems. This change reflects the industry’s realistic considerations for the current application of autonomous driving technology.

However, the mature development of blockchain technology may bring new breakthroughs for driverless technology. Ford and Toyota are exploring the application of blockchain technology in smart city infrastructure, which is not only expected to solve some bottlenecks in driverless technology, but also provide more stable and secure technical support for future smart transportation.

Further reading
Blockchain works! TOYOTA launches safe driver NFT, website: It can be used with "this mechanism" to eliminate the three treasures
TOYOTA embraces Ethereum! Are you studying to create a "car digital identity" to make driving more secure?