Auto giant Toyota was the hackathon sponsor of Astar Network (ASTR), one of the first parachains to come to the Polkadot (DOT) ecosystem.
Toyota has announced that it will sponsor a Web3 hackathon that will take place on the Astar Network. Hackathon’s main theme decentralized autonomous organizations (DAO) and innovative system designs will be produced in-house for Toyota employees to make efficient business decisions. hackathon, It is the way in which developers with a certain common idea put their innovative ideas into code within a certain period of time, as a team work.
Founder of Astar Network Sota Watanabe In a statement, Toyota’s employees and a constructive DAO for its internal activities system emphasized that they aim to develop If the development processes yield a desired outcome, Toyota employees are planned to interact with the Astar Network on a daily basis.
Watanabe stressed the importance of Toyota’s involvement in the initiative, while saying that this sponsorship agreement is intended to increase Toyota’s business efficiency. Web3He defined it as his orientation towards . DAOs, which are frequently preferred for mass governance, especially in recent times managed by the community and organizations without a central authority operates as
On the other hand, Toyota, which has been researching blockchain technology for some time as part of its vision for the company to improve its operations, announced in 2020 that it is exploring blockchain applications for the auto industry through a group of several subsidiaries.