Today, Korean blockchain firm HDAC declared that it has finished a proof of concept (POC) with backer Hyundai as a portion of its creative development projects. The corporation also exposed information about its latest Proof of Stake (POS) centered blockchain platform for outflows and Internet of Things (IoT) plans, for example, the building of smart homes.
HDAC (Hyundai Digital Access Currency) was originated by Dae Sun Chung, the Chief Executive Officer of Hyundai BS&C, which is the car brand’s Information Technology and production arm. The companies functioned together on a DLT explanation for car manufacture and quality data running.
The objective of Proof of concept was to guarantee data reliability and safety plus real-time controlling of vehicle manufacture. Because of blockchain technology, the latest automobiles can be tracked through the manufacturing process and their excellence data recorded immutably.
After the scheme’s attainment, Hyundai Digital Access Currency will operate with one of Hyundai BS&C’s assembly associates. This future project will emphasis on executing blockchain in the construction and maintenance of Internet of things enabled smart homes.
Hyundai Digital Access Currency intends to offer a creative solution with improved safety by mixing blockchain technology with the Internet of Things, big data, and cloud, which are motivating forces of the period of the 4th Industrial Revolution, mentioned Hyundai Digital Access Currency originator and Hyundai BS&C chief Sun Chung.
His company hopes to attain this with its latest blockchain platform called Friday. The plan will operate with the Internet of Things ecosystem, and so is centered on Proof of Stake and derives with its own agreement procedure. Friday’s test net is scheduled to be disclosed this November, looking forward to a complete launch following year.
Hyundai Digital Access Currency distinguishes that complementary scalability, safety, and devolution is an existing pain point in the creativity of the blockchain