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Hyundai is adding another piece to its growing blockchain ecosystem

June 26, 2020

Hyundai plans to launch a blockchain ecosystem through its European-based subsidiary Hdac and IT division Hyundai BS C after three brands have been registered with the Korean Intellectual Property Office.

According to Chosun, a local media company, Chund Dae-sun, CEO of Hyundai BS C, filed with the intellectual property authorities for the Altum, Atolo and Rizon brands. Each application has the description “electronic wallets that can contain cryptocurrencies”.

Coming soon cryptocurrency and ATM trading services?

Hyundai has not yet released any further details on the intentions of the conglomerate in the blockchain space.

Hyundai is adding another piece to its growing blockchain ecosystemHyundai is adding another piece to its growing blockchain ecosystem

Data from the most recent trademark application They point out that the company may want to offer services such as cryptocurrency trading, cryptocurrency ATMs, hardware, software, cryptocurrency issuance, and cryptocurrency sales.

Initial reports say this These services may include basic functions required for a proof-of-stake or PoS ecosystem, e.g. B. Dapp, storage and transfer.

A blockchain company has partnered with Hyundai’s blockchain arm

At the same time, CertiK, a blockchain auditing company, signed a partnership with Hdac after an audit of the design of the Hdac mainnet, known as “Friday”, was completed.

Connie Ngo, Marketing Manager at CertiK, said:

“Because of his future plans [de Hdac]”We have decided that it makes sense to formally partner to publicly promise Hdac’s focus on security and to support CertiK’s ability to support larger enterprise-level solutions like Hdac.”

The South Korean automaker has been taking steps to increase blockchain adoption across its industry since 2019.

Hdac announced a $ 10 million blockchain mutual fund in October 2019. The funds will help launch the project’s core network, develop decentralized applications, support industrial startups, and create an ecosystem with a “reward system with” cryptocurrencies. “