Photo: Toyota
You've probably heard of Bitcoin already and know it's a type of digital currency, but unless you're a technology geek, your knowledge on the matter probably ends there.
Don't worry, this is about the extent of our understanding as well. Sometimes it's best to know your limits and realize you can't understand everything just by reading a short piece on the subject on the Internet.
Well, the idea is that Bitcoin uses blockchain and distributed ledger technology (we feel smarter just by writing these things) to make sure its data remains secure as it travels through the online space. But security is just one aspect: this method also ensures that the ownership rights over the data remain protected.
What does this have to do with the intelligent cars we seem to be getting in just a few years? Well, through the voice of its Toyota Research Institute, the Japanese automaker has initiated a "user consortium" it hopes will be joined by other companies who are currently involved in research where the use of blockchains might help.
“Hundreds of billions of miles of human driving data may be needed to develop safe and reliable autonomous vehicles,” said Chris Ballinger, director of mobility services and chief financial officer at TRI in a statement.“Blockchains and distributed ledgers (BC/DL) may enable pooling data from vehicle owners, fleet managers, and manufacturers to shorten the time for reaching this goal, thereby bringing forward the safety, efficiency and convenience benefits of autonomous driving technology.”
The Toyota Research Institute (TRI) has identified three areas of the new mobility developments where this method would provide benefits: driving/testing data sharing, car/ride share transactions, and usage-based insurance.
The main idea is that our future vehicles are going to send and receive huge chunks of data every day, and this protocol might make it all safer. It would give companies and individuals a more precise control over who gets access to those bytes of information and who is kept in the dark. And when the data is shared - like the one on autonomous driving, for example - the BC/DL method would ensure its initial creator would always be credited for it.
“I'm excited Toyota is spearheading this initiative that uses blockchain technology to create an open platform where users can control their driving data,” said Neha Narula, Director, Digital Currency Initiative at the MIT Media Lab. “Our hope is that other industry stakeholders will join this effort to bring safe and reliable autonomous vehicles one step closer to reality.”
Well, the idea is that Bitcoin uses blockchain and distributed ledger technology (we feel smarter just by writing these things) to make sure its data remains secure as it travels through the online space. But security is just one aspect: this method also ensures that the ownership rights over the data remain protected.
What does this have to do with the intelligent cars we seem to be getting in just a few years? Well, through the voice of its Toyota Research Institute, the Japanese automaker has initiated a "user consortium" it hopes will be joined by other companies who are currently involved in research where the use of blockchains might help.
“Hundreds of billions of miles of human driving data may be needed to develop safe and reliable autonomous vehicles,” said Chris Ballinger, director of mobility services and chief financial officer at TRI in a statement.“Blockchains and distributed ledgers (BC/DL) may enable pooling data from vehicle owners, fleet managers, and manufacturers to shorten the time for reaching this goal, thereby bringing forward the safety, efficiency and convenience benefits of autonomous driving technology.”
The Toyota Research Institute (TRI) has identified three areas of the new mobility developments where this method would provide benefits: driving/testing data sharing, car/ride share transactions, and usage-based insurance.
The main idea is that our future vehicles are going to send and receive huge chunks of data every day, and this protocol might make it all safer. It would give companies and individuals a more precise control over who gets access to those bytes of information and who is kept in the dark. And when the data is shared - like the one on autonomous driving, for example - the BC/DL method would ensure its initial creator would always be credited for it.
“I'm excited Toyota is spearheading this initiative that uses blockchain technology to create an open platform where users can control their driving data,” said Neha Narula, Director, Digital Currency Initiative at the MIT Media Lab. “Our hope is that other industry stakeholders will join this effort to bring safe and reliable autonomous vehicles one step closer to reality.”
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