Today, Korean blockchain firm Hdac announced that it has completed a proof of concept (PoC) with backer Hyundai as part of its enterprise development plans. The company also revealed details of its new Proof of Stake (PoS) based blockchain platform for payments and Internet of Things (IoT) projects, such as the construction of smart homes.
Hdac (Hyundai Digital Access Currency) was founded by Dae Sun Chung, the CEO of Hyundai BS&C, which is the car brand’s IT and construction arm. The firms worked together on a DLT solution for car production and quality data management.
The PoC aimed to ensure data integrity and security plus real-time monitoring of automobile manufacture. Thanks to blockchain technology, new cars can be traced across the production process and their quality data logged immutably.
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