Toyota, one of the world’s largest automobile companies, is exploring the potential of incorporating Ethereum blockchain technology into its vehicles.
In a recent statement, Toyota revealed its plans to integrate Ethereum blockchain by designing a ’Movement Oriented Account’ (MOA) using the ERC-4337 standard. This initiative aims to ensure account maintenance even if the private key is lost.
Toyota Blockchain Lab is developing the MOA (Mobility Oriented Account) based on Ethereum’s ERC-4337 standard to support the transition towards fully autonomous driving in the future. This innovative approach leverages the mainstream Account Abstraction standard in Ethereum to create a robust and secure system.
”We call such an account on the Blockchain a ’MOA’ (Mobility-Oriented Account). Based on the currently mainstream Account Abstraction standard ERC-4337 in Ethereum, we are exploring how to design MOA,” the statement reads.
Additionally, Toyota Blockchain Lab expressed its eagerness to receive new proposals from the Ethereum community, including EIP-7702, to further enhance their blockchain initiatives.
Featured image from: cryptonomist.ch