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The Polkadot-based Astar Network not too long ago announced the primary web3 and blockchain hackathon sponsored by the Japanese Toyota Motor Corporation. HAKUHODO KEY3 firm, co-founded by Astar and HAKUHODO, one among Japan’s largest promoting firms, will host the web3 hackathon on February 25 this 12 months. 

The Astar Foundation will sponsor the occasion with $75,000 and the web3 basis with $25,000. According to a press launch, the $100k will probably be used as a reward for profitable initiatives chosen by Toyota, Astar Foundation, web3 Foundation, Alchemy, and HAKUHODO KEY3. 

How Toyota Can Improve Operations By Using The Polkadot Network

Sota Watanabe, CEO of Stake Technologies, made the announcement. Watanabe said that in recent times, firms have been dealing with the problem of accelerating the workload on managers on account of elevated enterprise decision-making and workforce member administration. Therefore, The Astar Foundation and the Polkadot-based Astar Network determined to develop a DAO assist device for firms. 

DAO is the abbreviation for “Decentralized Autonomous Organization.”  By setting guidelines by means of good contracts on the blockchain, the organizations and firms like Toyota may be managed and operated “transparently.” 

In addition, Watanabe mentioned that primarily based on Astar Network convictions, if the corporate can handle initiatives as DAO, organizations like Toyota, wherein workforce members can function autonomously and with decision-making distributed, can scale back the supervisor’s workload and, on the identical time, assist with workforce members affect within the firm’s progress. 

Toyota, the biggest automobile firm on this planet when it comes to offered automobiles, has over 330,00 workers throughout the globe. In the hackathon,  Astar is trying to find DAO instruments to implement within the automobile producer to enhance its workflow and operations. 

Watanabe said that they’re in search of potential merchandise, not just for Toyota but additionally for scaling to exterior events. Sotanabe mentioned:

(…) Needless to say, Toyota is the biggest firm in Japan and one of many world’s main worldwide firms. We are very excited to be internet hosting the web3 Hackathon on Astar with Toyota. During the occasion, we intention to develop the primary PoC DAO device for Toyota’s workers If device is produced, Toyota workers will work together day by day with merchandise on Astar Network. Sometime sooner or later, I believe we’ll see blockchain integrations in automobiles. Today, we’re nonetheless within the exploratory stage, however very excited concerning the numerous potentialities.

This is Toyota’s first web3 hackathon and goals to assist its imaginative and prescient of bettering its operations; this hackathon would be the first step within the course of. 

Overview Of The Use Of Blockchain By Astar Network

Astar goals to turn into the go-to blockchain undertaking in Japan. Thus, they established an organization known as Startale Labs. Astar claims it’s dedicated to additional selling web3 within the Asian nation.

The authorities enterprises in Japan and web3 options are working with Astar to carry collectively a worldwide platform to speed up and create blockchain-based options for a number of use instances. Astar’s ecosystem has turn into Polkadot’s main Parachain globally. 

Astar presents the pliability for all Ethereum and WebAssembly instruments, a binary instruction format for a stack-based digital machine (WASM) for builders to start out constructing their decentralized functions (dApps). Astar presents an Incubation Hub for groups of all backgrounds and focuses, used to speed up progress on Polkadot and its experimental blockchain, the Kusama Network.