Ava Labs and EV maker Togg to build smart contract-based mobility services

Ava Labs and EV maker Togg to build smart contract-based mobility services

Turkey’s electronic vehicle (EV) manufacturer Togg has announced a strategic partnership with Ava Labs to design and build smart contract-based services aimed at improving autonomous mobility. 

Togg’s collaboration with Ava Labs, a team dedicated to supporting and developing the Avalanche public blockchain, was revealed at the CES 2022 event in Las Vegas. As Cointelegraph Turkey reported, the partnership aims to fast-track Togg’s Use-Case Mobility initiative, which combines different technologies and transportation solutions to produce cars with more functionalities as compared to traditional EVs.

Our top trading bots

According to the official announcement, Togg has been exploring use cases around blockchain and related technologies in EVs for more than a year. With Ava Labs’ partnership, Togg intends to infuse Internet of things (IoT) and machine-to-machine (M2M) communication to expand and accelerate its EV capabilities.

Togg will implement smart contracts and blockchain technology for allowing users to pick up a reserved scooter or taxi while charging their EVs, enabling seamless mobility. Gürcan Karakaş, the CEO of Togg said:

“Our collaboration with Ava Labs is built on taking the experience of Togg users to the next level, going beyond automobiles to empower partners, users and non-Togg users across the mobility ecosystem to benefit from this platform.”

Moreover, Ava Labs’ partnership will allow Togg to store vehicle maintenance and parts information over the Avalanche blockchain, which will be foundational to a reliable second-hand market.

Related: Dogecoin gains 25% after Elon Musk confirms Tesla will accept DOGE for merchandise

Back in December, Dogecoin (DOGE) price went up by 25% soon after Tesla and SpaceX CEO Elon Musk announced plans to accept DOGE for Tesla merchandise.

As Cointelegraph reported, Data from Cointelegraph Markets Pro and TradingView showed DOGE/USD climbing over 25% to become the only major cryptocurrency to deliver gains on the day.

Ava Labs and EV maker Togg to build smart contract-based mobility services
DOGE/USD 1-hour candle chart (Bittrex). Source: TradingView
Keep reading on Cointelegraph
Tencent files for patent related to virtual concerts in Metaverse
Chinese tech conglomerate Tencent has filed for a virtual concerts patent with the Chinese National Intellectual Property Administration (CNIPA), according...
US is 'unquestionably' behind the curve on crypto ETFs, says Brian Brooks
Bitfury CEO and former Acting Comptroller of the Currency Brian Brooks has hinted the regulatory environment in the United States could drive many crypto...
Look out below! Dogecoin risks further downside after a key support is tested
Dogecoin (DOGE) is potentially at risk of losing critical support if the price falls from the ascending channel traded in for the last 53 days. Although...
Malta financial watchdog approves Iconic's crypto index fund for stock market listing
The Malta Financial Services Authority has greenlit the crypto asset index fund from asset manager Iconic Funds for listing on the Malta Stock Exchange.In...
Three Arrows Capital CEO Su Zhu outlines his bullish thesis for Dogecoin
Three Arrows Capital CEO Su Zhu has outlined a bullish thesis for Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE). Speaking on an Aug. 25 episode of...
OnlyFans boss explains how 'aggressive' banks forced it to drop adult content
Tim Stokely, the founder and CEO of OnlyFans has explained how banks had forced it to drop adult content from the subscription-based content platform. OnlyFans...
Ethereum price dragged down below $2K as US inflation hits highest level since 1991
Ether (ETH) perhaps had the most bullish outlook entering the July session, with a key technical update dubbed EIP-1559, promising to make its native token...
London wealth manager cashes out $1B profit from $600M BTC buy in November
Asset manager Ruffer has profited by more than $1 billion in profit from a $600 million Bitcoin investment it made during November 2020.Speaking to The...
Top 5 cryptocurrencies to watch this week: BTC, ETH, ADA, SOL, THETA
When the sentiment in the market turns bearish, every bit of negative news, however insignificant, pulls the price down as traders panic sell. This is what...
UK ad organization bans crypto exchange’s ‘time to buy’ Bitcoin advert
A major advertising industry organization in the United Kingdom has ruled on an ad campaign telling people “it’s time to buy” Bitcoin (BTC).The Advertising...
XRP price soars to new highs after recent legal victories and relisting rumors
XRP price broke out to a new multiyear high on April 13 as a surge of trading volume in the early morning hours continued into mid-day. Data from Cointelegraph...
Terrorists still raise money through crypto, but the impact is limited
We’re living today “amidst an explosion of risk related to fraud, money laundering, terrorist financing, and data privacy,” said United States Treasury...
Kraken reiterates tentative plans for direct listing next year
Kraken, one of the world’s largest cryptocurrency exchanges, has tentative plans to go public next year, according to CEO Jesse Powell.Powell appeared on...
JPMorgan Sued For $1 Million After Charging Fees on Crypto Transactions
This winter JPMorgan Chase on par with other outstanding US and UK banks declared it would bar its "patrons" from purchasing cyber assets with their credit...
Blockchain For "Honest" Marketing
The AdEx team creates a new generation of online advertising based on the blockchain technology. AdEx is an advertising exchange, the transactions within...