Hyundai Digital Asset Currency (HDAC) for a secure Internet of Things (IoT)
We at AmaZix frequently find ourselves introduced to incredible ideas as a result of our engagement with some of the world’s best innovators and pioneers in their respective fields.
One area that is attracting a lot of interest is the so-called Internet of Things (IoT) — or, simply, the ecosystem that is created by the way smart objects (that’s us humans and other smart devices) are connected to each other.
IoT is no longer in the private domain of the vague futuristic lifestyle, nor is it stuck in the realm of science fiction. It’s already a major part of many modern lifestyles.
If you’ve ever set your home temperature from your mobile phone while at the office, or used a remote baby monitor to alert you to possible emergencies, or even walked into a room and find it automatically lit as the circuitry detects your presence through a wearable device… then you’ve experienced the beginnings of a modern IoT, where you are connected to your environment with the aid of smart devices.
Security: a prevailing vulnerability of IoT
The unprecedented connectivity of IoT, however, presents cause for concern. Because if everything is connected, then every connection, every device, leaves you vulnerable to undetected intrusions, or entry points, that can be manipulated to compromise your entire network. In other words, IoT as a technology is relatively insecure.
Early IoT devices have already seen some of these security consequences: baby monitors that have been tapped into to steal data and images, or smart cars that have been forced to shut down in the middle of operation. All these pose very real dangers to human beings dependent on these IoT networks.
Our partner, next-generation digital service platform HDAC, believes that blockchain innovation can help provide the solution.
What they have built is a new platform on their own multichain-based blockchain that can still bridge to other blockchains such as Bitcoin and Ethereum to facilitate payments. Uniquely, this platform is built specifically to be used with IoT tech, able to handle scaling and smart contract functionality for secure IoT functionality with HDAC tokens.
HDAC simultaneously makes possible three features within IoT: authentication (so smart objects can identify each other), mapping (so smart objects easily find and connect to each other) and machine-to-machine (M2M) payments (so smart objects can bill and transact on their own).
The HDAC blockchain is unique from existing blockchains in several features: a trust-based mining algorithm (ePoW), three-minute blocks and a permission environment.
HDAC: an ongoing product backed by years of industry experience
One of the early developers of IoT-enabled smart devices, HDAC has already been working on the development and testing of this platform and mining algorithm since 2015. Its partnerships with other South Korean-based innovation startups including Doublechain, HyundaiPay, and DEXKO, have led to a successful completion of a HDAC operating environment field test in the form of a “smart cafe store” — at the Cafe de Block in Seoul, due to open mid-November.
The next stage will be the construction of an ambitious apartment complex in South Korea that will test a full integration of the HDAC platform.
The HDAC Token Generation Event (TGE) happens in less than 3 days!
Having already raised early funding (18,000 BTC), HDAC will still require significant funds for a number of development objectives such as specific hardware wallets for token/platform integration, advanced security models and HDAC infrastructure including production factories.
The HDAC TGE starts on 27 November, 2017 (8AM GMT) — and we at AmaZix are anticipating this to be one of the most sought-after opportunities to participate in.
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