Ava Labs, the company behind the Avalanche public blockchain, has formed a strategic agreement with TOGG, a Turkish electric vehicle (EV) manufacturer, to supply smart contract infrastructure for its next-generation self-driving vehicles.
The agreement was announced during the CES Summit in Las Vegas, Nevada, in 2022. The alliance, according to TBEN, intends to speed up Togg’s use case mobility program, which integrates various technology and transportation solutions to create cars with greater functionality than typical electric vehicles.
Avalanche is now one of the most popular blockchain systems. The network prides itself on being the fastest smart contract network in terms of time to finality. This functionality is required for TOGG’s next-generation autos to operate at high speeds. In addition, TOGG will expand and accelerate its EV capabilities by integrating innovative tools such as the Internet of Things (IoT) and machine-to-machine communication (M2M) as part of the agreement.
Avalanche will also assist Togg customers in developing a smart contract that would allow them to choose a scooter or cab while their automobiles are charging. Togg will also store car maintenance and parts information on the Avalanche blockchain, which will serve as the foundation for a trustworthy second-hand market, thanks to the Ava Labs relationship.
It’s fairly unusual for electric vehicle and automotive manufacturers to contemplate incorporating blockchain technology into critical areas of their operations. However, Volvo Cars, a renowned Swedish car manufacturer, has invested in Circulor, a London-based blockchain business specializing in industrial supply chains.
Furthermore, Mercedes-Benz, a German automaker, has allegedly investigated a blockchain-based automotive gas emission tracker in the past, implying that major automakers are beginning to recognize the value of blockchain technology in the sector.