Ford and Toyota double down on blockchain, patent filings surge

BlockBeats news, September 12, according to a series of patent applications recently filed by Ford and Toyota, the two auto companies continue to lead in the development of blockchain-based automotive technology. Ford and Toyota filed 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, according to data from GlobalData Patent Analytics and Just Auto, both Ford and Toyota bucked the trend. Ford's number of patent applications increased from 3 in the first quarter to 14 in the second quarter, while Toyota's number of patent applications increased from 25 in the first quarter to 29 in the second quarter.

Patents filed by Ford, Toyota and other automotive companies in the past few months address countless concerns within the industry. For example, Ford recently applied for a patent that ostensibly provides an unchangeable guarantee for car ownership. According to the filing, Ford’s system will “manage vehicle ownership data through smart contracts that execute automatically in response to real-time event data… including changes in vehicle ownership.”