By Philip E. Ross

Today if your car wants to talk to another car, a service provider or just an infotainment source, it needs to go through a third-party network. That can cost you money in two ways: you pay the third party and you forgo the chance of being paid for the use of your data.

Toyota means to solve both problems using blockchain technology, the networking method behind Bitcoin and other cryptocurrencies. Blockchain allows connected computers to share data and even software, and to do so securely. This matters for all sorts of computer-assisted driving, above all for self-driving technology.

“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 Toyota Research Institute, in a statement. “Blockchains and distributed ledgers 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.”   [Read More]