Toyota has partnered with MIT’s Media Lab to examine how Blockchain can improve the “safety, efficiency and convenience” of self-driving cars.

In a statement on Monday, the automotive giant’s Director of Mobility Services and Chief Financial Officer Chris Ballinger said the technology held several potential use cases for the future of personal transport.

He commented:

“Blockchains and distributed ledgers may enable pooling data from vehicle owners, fleet managers, and manufacturers to shorten the time for reaching this goal, thereby bringing forward the safety, efficiency and convenience benefits of autonomous driving technology.”

Toyota has begun repositioning itself as a major influence on innovative transport solutions, a timely move that comes at a time when its homeland Japan is stepping up its economic involvement with Blockchain and cryptocurrency.

Monday saw domestic airline Peach opt to begin accepting Bitcoin payments for its flights later this year.

MIT has also busied itself with partnerships looking at various opportunities for Blockchain to revolutionize different market sectors.

“I’m excited Toyota is spearheading this initiative that uses blockchain technology to create an open platform where users can control their driving data,” Neha Narula, director of its Digital Currency Initiative, said.

“Our hope is that other industry stakeholders will join this effort to bring safe and reliable autonomous vehicles one step closer to reality.”

Competition for Toyota is so far mainly stemming from Daimler, which has indicated it will seek to use Blockchain to enhance infrastructure and business development in Africa.