Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

Hyundai’s IT arm to hold token sale to bring blockchain technology to IoT

Hyundai BS&C, South Korean automobile giant’s arm focused on construction and IT services, is going to hold a token sale to bring blockchain technology to Internet-of-Things (IoT), Finance Magnates reported.

HyundaiPay, in collaboration with Swiss fintech company Hdac Technology, is working to improve the security of IoT payment platforms. Using blockchain technology, they want to protect the systems against data tampering, thereby making transactions amongst connected devices more secure.

Hyundai Digital Asset Currency or “Hdac” aims to build a blockchain platform to meet the needs of the IoT and payment environments through a machine-to-machine payment system. According to the official release, the token generation event (TGE) is aimed at protecting IoT devices and their users from hacks, privacy invasion, and external threats, especially for payments and transactions.

The TGE will support the continuing development of the Hdac blockchain. Maintained by the Hdac Technology group, the Hdac blockchain is based on hybrid blockchain technology, which offers a wider range of capabilities to ensure reliable connection and secured processing between devices.

“We are thrilled to hold a TGE in order to bring security and transparency to IoT devices. With more IoT devices hitting the market daily, our lives become more connected. Although there are many benefits to this, we open ourselves to great security risks. Blockchain technology, and special the Hdac blockchain, is the best way to leverage trust, transparency, and security on IoT,” Dae-Sun Chung, founder of Hdac Technology AG, said.

Hdac technology and Hyundai Pay will hold a TGE for the HDAC token on November 27th. This will follow a highly successful pre-sale round in which around $100 million has been raised.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2018-10-18 15:31:10
0m
2018-10-18 15:31:02
0m
2018-10-18 15:30:50
0m
2018-10-18 15:30:36
0m

October 18 14:30 UTC Released

USNat Gas-EIA Implied Flow

Actual

81 bcf

Forecast

Previous

90 bcf

October 18 14:30 UTC Released

USNat Gas, Change Bcf

Actual

81 Cubic feet

Forecast

82 Cubic feet

Previous

90 Cubic feet

January 31 00:00 UTC 375392375392m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375392375392m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 387212387212m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 375392375392m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 387212387212m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 375392375392m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375392375392m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 375392375392m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.