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Hyundai-backed Hdac Technology teams up with TODAQ on blockchain research and development

Image Via Hdac Technology (Twitter)

Wed, 29 May 2019, 05:07 am UTC

Hdac Technology, a Hyundai-backed blockchain technology company, has inked a business agreement with fintech firm TODAQ for strategic business cooperation.

With offices in Seoul and Toronto, TODAQ aims to provide decentralised supply chain and customer solutions to global corporations, banks and governments. Its platform is built on the TODA Protocol, a decentralized, distributed, layer zero, ledger-less blockchain capable of handling millions of on-chain transactions per second at less than 0.1% cost.

The companies aim to leverage their respective markets and partners to mutual benefit. Under the agreement, they will collaborate on the development of innovative decentralised technology. With a particular focus on blockchain, they will actively pursue joint projects and research and development based on their respective technological capabilities.

"We expect this agreement Hdac will bring both companies greater competitiveness in the development of decentralised business solutions and global expansion." said Hassan Khan, TODAQ CEO and Co-founder.

Hdac will leverage the TODA Protocol to strengthen its existing blockchain technology. The companies will also join forces to build real economy usage cases for digital assets, including the HDAC token and the soon to be released TDN ('TODA Note').

"Based on our innovative technology, we will continue to carry out various projects for the development of blockchain technology with TODAQ. We will continue to strengthen cooperation with leading domestic and foreign innovation companies to provide more value to our customers." said BuYoung Yun, Hdac CEO.

TODAQ is currently gearing up to launch retail, energy, education and pharmaceutical commercial projects across Asia, the Middle East and Europe.

Hdac, on the other hand, signed a Memorandum of Understanding (MOU) with Hyundai BS&C and GC Green Cross Healthcare in March for cooperation in the blockchain-based healthcare business. It has also entered into a partnership with India's first blockchain project "Eleven01" in April to develop blockchain technology.

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