Toyota releases Avalanche-based MON blockchain framework to promote vehicle asset tokenization

On August 21st, Toyota Blockchain Lab unveiled a white paper introducing the Mobility Orchestration Network (MON), leveraging Avalanche’s multi-chain architecture. This innovation aims to tokenize vehicles as digital assets, integrating NFTs to create distinct digital identities.

MON supports various applications, including electric vehicle fleets and logistics. The framework manages securities issuance and ownership while aiming for compliance and asset circulation across different sectors, and is presently in the proof-of-concept stage.