Hyundai Will Launch Token Sale
Hyundai is one of the first major companies to hold a token sale. The firm said it will use the Hdac blockchain to address major security issues associated with IoT devices, and apply the technology to hardware payments applications.
Hyundai Pay, the Internet-of-Things (IoT) arm of Hyundai, will be holding a joint ICO with Hdac Technology to issue HDAC tokens. Hdac Technology, a company founded earlier this year by Dae-Sun Chung, the grandson of Hyundai Group founder Ju-Yung Chung, is the creator of the Hdac blockchain, an IoT contract and payment platform.
According to a report by Research and Markets, the IoT market is expected to grow from US$170.57 billion in 2017 to US$561.04 billion by 2022. The rapid adoption of IoT and smart devices have raised the issue of cybersecurity.
With this we can see that the HDAC can grow rapidly and can expand faster with a very good security that can secure every transaction.
“We are thrilled to hold a [token sale] in order to bring security and transparency to IoT devices,” said Dae-Sun Chung. “With more IoT devices hitting the market daily, our lives become more connected. Although there are many benefits to this, we open ourselves to great security risks.”
Chung wants to bring a security for IoT with the partnership to Hyundai he thinks that this will happen. As he belive that as many IoT devices hitting more in the market daily, out lives will be more connected.
Hdac is an IoT contract platform based on its own blockchain that’s more IoT friendly. This run seperately with Ethereum and Bitcoin Protocol. This is hybrid blockchain technology. This is also offer wider range, and much better security.
This new blockchain technology aims to capture more IoT devices by giving ot offering them a wider range of options and much easy to use and better security that will secure their transaction.
Unlike other blockchain and cryptocurrency projects that are used mainly for payment means, Hdac is a platform to control IoT devices, process approval between machines, unify IoT data, and to develop a variance-application program based on trust.