<p><span style="font-weight: 400;">Toyota systems, a wholly-owned subsidiary of Toyota Motor Corporation focused on information technology, plans to develop and test a digital currency as part of a new pilot project with Japanese cryptocurrency exchange DeCurret.</span></p> <p><span style="font-weight: 400;">According to a <a href="https://www.toyotasystems.com/news/upload/2020/10/23d3a4d59616c11d578285606d04b83eb8b30588.pdf">press release</a>, the project will involve 2,500 employees at Toyota Systems and will entail creating a platform that features digital currency payments for employee benefits. The digital currency will be tradeable for gifts listed in a catalog or for benefit points, according to the statement. </span></p> <p><span style="font-weight: 400;">The pilot, which will test the feasibility of using a blockchain-based digital currency at a large scale, </span><span style="font-weight: 400;">isn't Toyota's first foray into digital currency-related research. In March, the company launched the Toyota Blockchain Lab to explore potential applications of blockchain technology. </span></p>