Hyundai-backed Hdac Technology to co-develop blockchain-based enterprise solutions with StrongBlock

Hyundai-backed Hdac Technology has signed a Memorandum of Understanding (MOU) with StrongBlock, a Blockchain-as-a-Service (BaaS) platform, to cooperate on blockchain-based solutions.

Founded by Hyundai BS&C CEO Dae Sun Chung, Hdac Technology is a blockchain technology company headquartered in Zug, Switzerland. Its blockchain project ‘Hdac’ is a hybrid enterprise-grade blockchain platform integrating public and private blockchains. It can be applied to various fields including construction, real estate, manufacturing, finance, and retail.

Hdac has already completed two proof-of-concept blockchain projects, including a blockchain-IoT converged smart home solution that has already launched.

StrongBlock, on the other hand, was founded by four former technology executives from EOSIO-creator, Block.one – David Moss, Thomas Cox, Corey Lederer, and Brian Abramson. It aims to simplify creating custom enterprise-grade blockchains.

Under the MOU, the companies will collaborate on blockchain-based enterprise solutions as well as business and development for select B2B projects led by either party.

“We expect our partnership with StrongBlock will help us to widen the spectrum of our enterprise blockchain solution offering so that we can achieve our goal of providing a scalable and reliable BaaS (Blockchain-as-a-Service) solution to our partners and clients to establish and operate their own blockchain-based services,” Hdac Founder Dae Sun Chung said.

According to the press release, the collaboration marks the first in a series of steps over the next 3 years that will enable the expansion and adoption of enterprise-grade blockchains by Hdac and StrongBlock. The companies believe this partnership will prove the value and tremendous potential of blockchain technology to address diverse problems across multiple industries.

“StrongBlock is the clear leader in BaaS. Our partnership with Hdac will accelerate the development of their promised blockchain platform. Our team helped build EOSIO, we coordinated the launch of EOS Mainnet -- the fastest and most-used blockchain mainnet on the planet -- and we have a working Delegated Proof of Stake (DPoS) flagship product,” said David Moss, StrongBlock Founder and CEO.

Hdac has been engaging in blockchain-based global business since its establishment in October 2018. This includes collaboration with Israeli blockchain startup Orbs, Canadian fintech firm TODAQ, the first blockchain project of India Eleven01, and more recently CasperLabs.