Hdac presents New Blockchain Development Plan At KBW 2019

Hdac Presents New Blockchain Development Plan At KBW 2019

Hdac Technology revealed the completion of a Proof of Concept (POC) of its enterprise blockchain solution at Hyundai as a part of its enterprise development plans.

The company also revealed details of its new Proof of Stake (PoS) based blockchain platform for the payment and Internet of Things projects, such as the construction of smart homes. Named as "Friday", the newly announced PoS based blockchain platform is aimed at the IoT ecosystem.

Hdac (Hyundai Digital Access Currency) was founded by the Dae Sun Chung, the CEO of Hyundai BS&C. Both firms worked together on a DLT solution for car production and quality data management.

Executive Opinion

Hdac founder, Dae Sun Chung, said, "Hdac aims to provide enterprise solution with better security by integrating blockchain technology with IoT, big data, and cloud, which are driving forces of the era of the Fourth Industrial Revolution. With the development of new blockchain, Hdac will be reformed as a blockchain platform better optimized for the IoT environment and payment services,".

PoC with Hyundai Motor Company

Conducted at the Manufacturing Engineering Research & Development Center of Hyundai Motor Company, the PoC aimed at data integrity and security plus real-time monitoring of automobile manufacture.  The PoC also ensured blockchain-based production history and product quality data management, the announcement notes.

In the next phase, Hdac plans to work with the Hyundai group's construction company to leverage blockchain technology with the open smart home service platform.

After the success of the project, Hdac will now be going to work with one of the Hyundai BS&C construction partners. This upcoming project will focus on implementing blockchain in the building and maintenance of the IoT enabled smart homes.

Currently, Hdac is listed on the European crypto exchange LATOKEN as well as on Asian exchanges including Bithum, GDAC, CoinBene, and Bibox. The announcement noted the plan to list Hdac on Bitrrex by the end of the current year.

Hdac also partnering with CasperLabs to develop VM (Virtual Machine) based on WebAssembly to provide a more convenient smart contract development environment, notes the announcement.

PC: Pablo, Pixabay

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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