Hyundai Pay will extend its Hdac blockchain services by expanding availability in smart home and online-to-offline (O2O) areas, the company said.
Hyundai Pay is currently working to create a bridge node between public and private blockchain. The firm will then run proof of concept trials in various areas.
It has been filing patents on a combined system for public and private blockchains, encrypted communication using blockchain between devices, and strengthening the integrity of blockchain databases.
It will develop services that connect blockchain wallets with point-of-sales, the company said. It will also connect blockchain technology with wall pads at home so that utility bills can be paid securely.
Hyundai Pay has also been working on applying blockchain to smart contracts, smart factories, and smart logistics to beef up security in the enterprise.
Most Korean companies are launching private blockchain services. Samsung SDS rolled out Nexfinance, a finance platform with added security using blockchain.
LG CNS has also launched its own blockchain platform, dubbed Monachain, for use in digital authentication and transaction.
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In South Korea's small towns and big cities, the Internet of Things (IoT) is changing everything from utilities to subways to buildings as more municipalities and companies capitalise on new computing and network technologies.
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Blockchain: A cheat sheet (TechRepublic)
This comprehensive guide covers everything you need to know about the innovative blockchain technology that powers Bitcoin, Litecoin, and other cryptocurrencies.