Toyota and Ford go full throttle in a race of blockchain-driven vehicles

Ford and Toyota are at the forefront of blockchain-driven vehicle technology innovation, as evidenced by a slew of recent patent filings from both automakers. In the second quarter of 2024 alone, the two companies filed a combined total of at least 43 blockchain-related patents.

Data from GlobalData Patent Analytics and Just Auto shows that, despite an overall decline in industry patent filings during Q2, both Ford and Toyota stood out. Ford's filings surged from three in Q1 to 14 in Q2, while Toyota increased its filings from 25 to 29 over the same period.

The top five companies in blockchain patent filings for Q2 2024 included Ford, Toyota, and three other firms, with a range of filings spanning from 29 to six.

Ford’s recent blockchain patents address various industry concerns, including a notable system designed to provide immutable proof of vehicle ownership. The system would use blockchain to track ownership changes via smart contracts that automatically execute when triggered by real-time events, streamlining the process of transferring both the vehicle and its title.

Similarly, Toyota has filed patents exploring the development of an internal blockchain-based system for managing NFTs tied to its vehicles. The system ensures that vehicles in storage, such as those held by dealers until they are sold, are accurately reflected on the blockchain ledger.

Both companies are also shifting their focus toward driver assistance technologies, recognizing the current challenges in deploying fully autonomous vehicles. A recent industry gathering highlighted that while optimism remains high, the challenges preventing the public deployment of robotaxis have yet to be resolved. Blockchain-based infrastructure, currently being explored by both automakers, may provide a competitive edge in advancing driverless vehicle technology in the future. One key area of exploration is the impact of blockchain-based city infrastructure on driverless vehicle technology.