Toyota Sponsors First Astar Web3 Hackathon

Toyota Sponsors First Astar Web3 Hackathon

Altcoin news, News

A hackathon for Web3 is being hosted on Polkadot’s premier parachain, the Astar Network. The hackathon is sponsored by Toyota Motor Corporation, a Japanese multinational car manufacturer.

According to the announcement, the team’s goal for this hackathon is to locate intra-company DAO support tools that Toyota workers may really put to use in the near or distant future.


Toyota Sponsors 
First Astar Web3 Hackathon
Toyota Sponsors First Astar Web3 Hackathon

The hackathon competitors will be expected to attend a kick-off event on February 25, and they will have until March 18 to build their concepts before the competition ends.

On March 23, the preliminary round of judging will take place, and on March 25, those who have advanced to the next level will be allowed to participate in the pitch event.

The purpose of the first hackathon hosted by Toyota is to develop an intra-company DAO support tool on the Astar Network. This tool will enable anyone to participate in the formation of teams, the issuance of governance tokens, and the casting of votes without the need for prior knowledge of Web3’s particulars.

While it is possible that Toyota will use the technologies developed during the hackathon to improve operational transparency and efficiency, Astar Network will be responsible for providing the appropriate environment for developers and will be responsible for providing assistance for product development.

The topic was selected because Toyota believed that, by managing projects in the form of a DAO, they would be able to reduce the amount of work that was required of managers while also assisting team members in increasing the effect that they had on the expansion of the company.

The creator of Astar Network, Sota Watanabe, made the following statement during the event: “During the event, we intend to construct the first PoC DAO tool for Toyota’s workers.” If a useful tool can be developed, Toyota workers will engage with the items sold via Astar Network on a daily basis.

This hackathon is the first phase in Toyota’s strategy to implementing web3 support to enhance the corporation’s operations, and it is being held as part of the company’s “hackathon” initiative.

Astar Network is committed to the further development of web3 in Japan and is trying to build Startale Labs Japan in order for Japan to become a backer of blockchain technology.

Both the web3 Foundation and the Astar Foundation have contributed $25,000 and $75,000 respectively to the funding of this hackathon. The winning projects will each get a reward of one hundred thousand dollars, which will be selected by Toyota, the Astar Foundation, the web3 Foundation, Alchemy, and HAKUHODO KEY3.

Here is the registration page for the hackathon for anybody who is interested!

Compiled by Coinbold

blockchain, DAI, DAO, DOT, NEAR, SOL, Web3