Türkiye’s first homegrown electric vehicle developer has introduced a smart device-integrated digital asset wallet to connect mobility technology to the Avalanche blockchain, the company announced Monday.
Dubbed the first of its kind in the world, it provides bank-grade security for users and enables unlimited use, including access to the Smart Device Passport, service history, valuable part tracking, carbon footprint and emission records, insurance claims and supply chain authentication via smart contracts, as per a statement from Türkiye’s Automobile Joint Venture Group (Togg).
In June 2022, Togg and blockchain platform Ava Labs signed a partnership deal to develop and launch safe and secure mobile services powered by smart contracts on Avalanche as a reliable and fast platform that is deeply rooted in technological innovation.
The smart device-integrated digital asset wallet was unveiled at CES 2023, the world's largest annual tech and consumer electronics show, in Las Vegas.
Gürcan Karakaş, the CEO of Togg, a consortium of five companies producing the first domestically produced automobile brand, said the firm is working to create an open and accessible ecosystem for everyone surrounding its smart device and digital products.
“We aim to take the mobility experience of our users with our product – the digital asset wallet, which we developed on the blockchain of our strategic partner Ava Labs – to the next level. The mobility ecosystem has no limits. It will go wherever we take it,” he added.
Türkiye has been highlighting not only the fact that Togg will be battery-powered but also that its features will make it more than just a car. Togg calls itself a technology brand that blends digital and physical experiences.
Moreover, the company is launching a non-fungible token (NFT) marketplace on Avalanche for users to buy, sell and swap a wide range of NFTs, including art, collectibles and more. The Togg NFT marketplace is accessible through the digital asset wallet, which allows users to safely store, access and transfer their digital assets on the go.
It will offer an “Art Mode” feature that transforms the car’s ambiance to match the NFT artwork being displayed on the in-car digital asset wallet.
Togg’s Avalanche-based solutions will open a new perspective for mobility, enabling people to easily rent various modes of transportation – such as cars, scooters and parking spots – via one platform with payments for each step of the users’ journey securely automated through smart contracts with the digital asset wallet, the company said.
