Hyundai-backed Hdac Technology announces plan to provide enterprise blockchain solution

Blockchain technology company Hdac Technology has announced its plans to soon offer Enterprise Blockchain Solution as a Service and an easy and convenient developing environment.

Founded by Hyundai BS&C CEO Dae Sun Chung in October 2017, Hdac Technology is a tech company under blockchain project 'Hdac' – a hybrid blockchain platform integrating public and private blockchains and designed as enterprise architecture to process diverse needs in the industry.

The company today presented its future business strategy and technology development roadmap at Grand InterContinental Seoul Parnas.

Hdac Technology said that it will use the DevOps approach to enable fast and easy development, establishment, test, and distribution of Hdac-based blockchain infrastructure. It plans to complete the development of Software Development Kit (SDK) and Application Programming Interface (API) in the first quarter to build the enterprise solution developing environment and framework.

CTO Moon-Ok Cho said that the Hdac Enterprise Blockchain Solution could be applied to various fields such as construction, real estate, manufacturing, finance, and retail.

"We aim to help companies to establish and operate their own blockchain-based services with ease by providing BaaS(Blockchain-as-a-Service) solution,” Cho said. “We are currently reviewing cooperation with a world-renowned cloud service provider to provide top quality enterprise blockchain services and to acquire a competitive edge in the global market.”

He further said that the team has completed two proof-of concept projects in addition to the already launched HERIOT, a blockchain-IoT converged smart home solution. Cho said that they “expect to win more than four actual projects during the first half of the year.”

Hdac-Coin

According to the official release, Hdac Technology’s FinTech business is driven under HYUNDAI PAY, an initiative aiming to provide convenient daily cryptocurrency payment services.

Hdac Technology said that the core of its FinTech business is Prepaid Point Payment Service, which allows customers to purchase prepaid e-money called 'H Point'(tentative) with 'Hdac Coin' and use it for transfer, electronic payment at online/offline franchise stores, QR-code payment at retail stores, and utility bill payment on smart home service.

HYUNDAI PAY is seeking to start Hdac-Coin-Based Prepaid Point Service within this year to lead commercializing cryptocurrency with large-scale investment. Cho plans to evolve 'H Point' into a stablecoin in the future.

In addition, Hdac Technology also provided updates on its Real Estate P2P service, Bridge Node, Hdac Contract, and others.

“Hdac Technology will provide all types of blockchain-related services to better assist customers in the era of the 4th industrial revolution by integrating upcoming technologies like IoT, AI, big data, and FinTech,” CEO Michael Yoon said. "We are in dialogues with a globally renowned blockchain team to upgrade the current ePoW algorithm into a new blockchain protocol which suits the new era."