Japanese multinational automotive manufacturer Toyota Motor Corporation sponsors a Web3 hackathon on Polkadot’s leading parachain Astar Network.
According to the announcement, the team is looking for intra-company DAO support tools for this hackathon which Toyota employees may actually use in the future.
The participants of the hackathon will be required to attend a kick-off event on February 25 and will have until March 18 to develop their products.
The first round of judging will take place on March 23, and those that pass will be able to participate in the pitch event on March 25.
Toyota’s first hackathon’s goal is to build an intra-company DAO support tool on the Astar Network that will let anyone form teams, issue governance tokens, and cast votes without having to be familiar with Web3’s specifics.
While Toyota may use the operational transparency and efficiency-enhancing technologies created during the hackathon, Astar Network will provide the appropriate environment for developers and be responsible for providing assistance for product development.
The theme was chosen as Toyota thought that by managing projects as a DAO, they could lessen the manager’s workload and at the same time assist team members in enhancing the impact that team members have on business growth.
Sota Watanabe, the founder of Astar Network, stated “During the event, we aim to develop the first PoC DAO tool for Toyota’s employees If a good tool is produced, Toyota employees will interact daily with products on Astar Network.”
This hackathon is the first step in Toyota’s approach to incorporating web3 support to improve the operations of the corporation.
Astar Network is dedicated to further advancing web3 in Japan and is working to establish Startale Labs Japan to become blockchain-backed by Japan.
This hackathon is funded by the web3 Foundation with $25k and the Astar Foundation with $75k. Toyota, Astar Foundation, web3 Foundation, Alchemy, and HAKUHODO KEY3 will choose the winning projects and give them the $100,000 prize.
Interested people can register for the hackathon here!!
Also Read: ETHGlobal Announces 2023 Hackathon Season for the Community
