The growing popularity of smart contracts is finding favor with all businesses cutting across the industries and segments. In an exciting development, an electric vehicle manufacturer from Turkey, TOGG has decided to join hands with Ava Labs in order to develop the smart contracts that will be utilized in order to improve the services related to autonomous mobility.
The development was reported by The Cointelegraph and it comes as positive news for the entire cryptocurrency and blockchain industry.
AVA Labs makes it simple to launch finance applications using blockchain technology–with highly scalable and efficient networks, customizable public and private blockchains, the capability to create any digital asset, and more. The company’s platform, Avalanche has great potential and would tend to be the most attractive cryptocurrencies, mainly for its native token, AVAX, that ensures high transaction security coupled with speed scaling a trillion per second. According to this AVAX price prediction, the token could trade for around $150, this year.
The announcement of this association was made by TOGG at one of the biggest technology events, the CES 2022 in Las Vegas. This particular association will be utilized in order to further the capability of TOGG in the fast-tracking initiative of use case mobility. This particular initiative of the company is specifically aimed to provide breakthrough technology solutions through which new electric cars will come equipped with more capabilities than their existing counterparts. One such capability will be the use of the internet of things (IoT) and communication between machine to machine that will be accomplished with the expertise available with Ava Labs.
The top functionaries of both organizations express their confidence in this coming together and hope that this partnership is going to make a considerable contribution in the segment of electric vehicles. Through this partnership, two different industries converge for a common cause that, in turn, will enhance the customer convenience and overall delivery of value to the stakeholders across the value chain. TOGG had already entered into a partnership with the Farsis company based in China in a deal related to the use of battery cells.