How many cryptos will emerge over the next decade? The Central Bank of Japan does not believe in a single digital currency dominating the world.
But if each company developed its own crypto, we might have a bunch of them in the years to come.
Toyota is developing its own crypto: the Japanese manufacturer continues its progress on the road to the blockchain.
Its 2,500 employees will be able to use its digital currency, initially to obtain "good points" and gifts.
Toyota is rolling out the development of its crypto
Toyota Systems is experimenting with a digital currency with the Japanese crypto-exchange Decurret, which was also requested by the Bank of Japan in its project to create a state crypto.
The digital currency developed by Toyota will be used by about 2,500 company employees.
They will be able to use it to obtain certain benefits or gifts. The Toyota crypto cannot be exchanged for yen at the moment.
Toyota Systems plans to use its crypto for company transactions and supply chain management in the future.
"Today, tomorrow": a Toyota on blockchain
Toyota Motors is not at its first attempt with the blockchain. The Toyota Blockchain Lab is tasked with contributing to the transformation of Toyota into a "mobile society".
Toyota stated in a May 2020 press release that the blockchain allows data to be shared between different parties in a secure manner, while ensuring reliability.
The Japanese automotive giant is not the only company to develop blockchain applications for its activities.
Mercedes had developed a blockchain platform to improve transparency and increase the manufacturer's ecological responsibility in the management of its supply chain.
In another sector, Nike uses blockchain to fight counterfeiting. The blockchain is often used in the field of traceability - traceability of products in the food industry, pharmaceutical industry, etc..
The blockchain as the main vector of innovation in companies: companies run faster than governments in integrating cryptos and blockchain in their practices. Will centralized databases really end up becoming obsolete and disappearing? For a visionary and innovative company like Toyota, the blockchain is a necessary path. Zen and Japanese ingenuity: is it certain that Satoshi Nakamoto is not from Japan? It is not the Australian Craig Wright, nor the British John McAfee who is currently languishing in prison.
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