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Toyota web3 hackathon will be hosted by HAKUHODO KEY3, the company co-founded by Astar and HAKUHODO, one of the largest advertising companies in Japan. The participants can complete their products till March 18th, 2023. The first round of judging will be held on March 23rd, 2023 and those groups who qualify the judging will join the mega event on March 25th, 2023.
Toyota Motor Corporation (Toyota) is exploring the decentralized automotive organization (DAO) tools and blockchain integration that will improve its company operations. Toyota has over 330,000 employees globally and with the DAO support tools for this web3 hackathon, Toyota employees may actually use this in the future.
Astar Network, yesterday announced that the web3 hackathon on its network will be sponsored by the automotive giant.
According to Astar Network it will “focus on building Kaizen culture through a DAO. While the world’s largest car company, Toyota, is “developing DAO tools that improve company operations and also empower individual employees at work.
The multi-chain dApp hub is quickly becoming the blockchain backed by Japan. And they also aim that the Japanese enterprises and governments can quickly join their network. This web3 hackathon is in collaboration with Polkadot and Alchemy Platform, which is making the web3 possible globally.
The sponsorship of this web3 hackathon by Astar Foundation is $75K and by web3 Foundation is $25K. Then as a reward 100K will be given to the winning projects chosen by Toyota, Astar Foundation, web3 Foundation, Alchemy, and HAKUHODO KEY3.
The Web3 Hackathon Theme
The hackathon theme is the “development of a DAO support tool for in-house projects.” This theme was decided as the companies are facing the issues of increasing workload on managers along with an increase in business decision-making and team member management.
Moreover, if Astar could manage projects as a DAO, the team members can operate autonomously and decision-making will be distributed. The workload will be reduced and that will push the growth of the company.
The Founder of Astar Network, Sota Watanabe, said that “With one of the world’s leading international companies, Toyota, they will be hosting the web3 hackathon in its network. During the event, they will aim to develop the first PoC DAO tool for Toyota’s employees. If a good tool is produced, the Toyota employees will interact daily with products on Astar Network.”
Watanabe thinks that in the future, there will be “blockchain integrations in cars. However, he further noted that at present they are “in the exploratory stage, but are excited about the various possibilities.”
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
