Toyota Eyes Blockchain to Turn Cars into Financial Assets

Toyota's Blockchain Lab has proposed a blockchain framework, the Mobility Orchestration Network (MON), that would turn vehicles into tokenized financial assets. The white paper was released on August 19, and it describes capturing and verifying vehicle data, such as registration, service, mileage and accident histories, and representing each vehicle with a non-fungible token (NFT). The article says this could enable fleet investment portfolios and let logistics firms and ride-hailing operators raise capital through securitized car tokens. It notes that the white paper does not explain how individual car owners would be affected, including whether investment demand could inflate car prices.