According to BlockBeats, on September 12, according to a series of patent applications recently filed by Ford and Toyota, the two automobile companies continue to lead in the development of blockchain-based automotive technology. Ford and Toyota submitted at least 43 blockchain-related patents in the second quarter of 2024.
Overall, the industry filed fewer patents in the second quarter than in the previous quarter. However, Ford and Toyota both bucked the trend, according to data from GlobalData Patent Analytics and Just Auto. Ford’s patent applications increased from 3 in the first quarter to 14 in the second quarter, while Toyota’s patent applications increased from 25 in the first quarter to 29 in the second quarter.
Patents filed by Ford, Toyota, and other auto industry companies over the past few months address numerous concerns within the industry. Ford, for example, recently filed a patent that would ostensibly provide immutable guarantees for car ownership. According to the filing, Ford’s system would “manage a vehicle’s ownership data through smart contracts that are automatically executed in response to real-time event data… including changes in vehicle ownership.”
