Hyundai BS&C Announces Entry into Blockchain-Based Digital Asset Business
Published2017.03.17 11:45Hyundai BS&C, Doublechain, and the Korea Digital Exchange held a 'Hyundai DAC' technology seminar on the 15th and announced their full-scale entry into the blockchain-based digital asset business.
This seminar, hosted by the Korea Software Industry Association and the Korea Digital Exchange, was organized by Hyundai BS&C, Doublechain, and the Korea Fintech Platform Forum, with numerous blockchain technology-related companies participating as sponsors.
Professor Park Sung-joon, Director of the Blockchain Center at Dongguk University, who gave an invited lecture, stated, "Blockchain, which began with Bitcoin, possesses explosive power akin to the second internet boom, and has now gone beyond being a simple means of digital currency to become a medium that will drastically change the global IT industry, economy, and society." He added, "Since it has many advantages, such as smart contract functions and IoT control applications with enhanced security, Korea must also respond quickly to the changes in blockchain and it is time to introduce electronic cryptocurrencies suitable for them."
Hyundai DAC is a next-generation electronic cryptographic currency utilizing blockchain-based technology, quantum random numbers, and related patents, characterized by ease of use and upgraded transaction transparency and security. In addition, the company announced that it will proceed with the establishment of a digital exchange service and an ecosystem related to construction and distribution by the middle of this year to launch full-scale business operations, based on a design for the smart home era tailored to the ICT and IoT environments.
Meanwhile, Hyundai BS&C is strengthening its position as a specialized IT company and expanding its business by announcing Hyundai DAC, a new concept blockchain digital asset system, following last year's announcement of a partnership with Doublechain for 'Hyundai Pay' and entry into the fintech business. Doublechain is a platform developer experiencing rapid growth based on its blockchain-based technological capabilities. Consequently, with the support and positive response from organizations such as the Korea Digital Exchange and the Korea Software Industry Association, the creation of an environment for natural connection and exchange among blockchain technology companies and technology community groups is being reinforced.
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