Toyota will support a Web3 hackathon held at HAKUHODO KEY3, the business that Astar and HAKUHODO, one of the biggest advertising businesses in Japan, co-founded. The kickoff event will take place on February 25, and participants will have until March 18 to finish their items. Groups that succeed in the first round of judging will be permitted to participate in the pitch event on March 25. The first round of judging will take place on March 23.
The Web3 Foundation funds this hackathon with $25k and the Astar Foundation with $75k. Toyota, Astar Foundation, Web3 Foundation, Alchemy, and HAKUHODO KEY3 will each contribute $100,000 as a prize for the best projects, according to reports.
Toyota employs more than 330,000 people worldwide and is the largest automaker in the world based on the number of vehicles sold. We’re searching for internal DAO support tools for this hackathon that Toyota workers might utilize. We seek viable products for scaling to outside parties and for Proof of Concept inside Toyota.
Making a DAO support tool for internal projects
The term “Decentralized Autonomous Organization” is also known as DAO. The organization may be governed and run transparently with the assistance of many individuals by creating its own rules using smart contracts on the blockchain. Anyone with an Internet connection and the tokens used by each organization can participate in this sort of organization and engage in decision-making.
Due to increased corporate decision-making and team member management, firms have recently faced the difficulty of increasing the workload on managers. We chose the topic of creating a DAO support tool for businesses because we thought that we could manage projects like a DAO, an organization in which team members can work independently. Decision-making is decentralized; we could lessen the manager’s workload and assist team members in strengthening the impact that team members have on business growth.
Astar and Japan looking to build in the web3 space
Astar wants to be the blockchain that Japan supports. Astar is dedicated to further promoting Web3 in Japan with the launch of Startale Labs Japan. Only a few Japanese businesses with successful experience running and developing the L1 public blockchain outside. To put together a worldwide platform with origins in Japan, the government, businesses, and Web3 solutions in Japan are actively collaborating with Astar. To usher in a “new age,” Astar is accelerating.