Hyundai Mainnet and dApps will be launched soon as per a statement by the company’s crypto division Hdac. Hyundai blockchain and cryptocurrency divisions are working with ten million dollars ($10M) to develop and launch its dApps (decentralized applications), mainnet, and other crypto-related startups that have high return potential for the company.
Lately, the Hyundai corporation is becoming increasingly interested in entering crypto space. It’s crypto and blockchain division’s entry into the distributed ledger technology (DLT) has turned many heads. The automotive giant based in Seoul has now invested heavily in a token ecosystem that is compensation system-enabled and exhaustive in terms of its applications.
Hyundai’s incubation systems have paid off well in the past. Though it invests carefully, it does so in relatively risk-free sectors and those boasting of evolutionary technology.
Hyundai Mainnet and dApps to launch in 2020
The blockchain network called Mainnet by Hyundai will be launched in the first quarter of 2020. Perhaps the most notable statement made is that the conglomerate will apply its blockchain expertise in its biggest enterprise operations, i.e., construction and automobiles.
Hdac’s head, Joo Yong-wan, further elaborated that the construction division of Hyundai is considering integrating the blockchain network into its daily operations. It will use the expertise in an apartment complex currently undergoing construction in South Korea. A computer terminal with a DLT-enabled wall pad will be installed initially. Think of it as a pilot project for Mainnet’s real-world implications.
Blockchain to power Hyundai’s next technologies
Hyundai Group is going further with blockchain-powered technologies. Next in the line are Proof of Concept (PoC) innovations. These will primarily power the smart applications dedicated to the futuristic smart homes in the cities.
Hdac has also indicated that it is open to collaborating with more blockchain players in the market. For example, it is in talks with Kakao, the instant messaging firm popular in Korea. Kakao’s recent partnership with Terra project to create a payment processing system powered by blockchain has got the industry excited.
Notably, Hdac will also be looking to enter into partnerships with financial conglomerates.
Notably, the executive added that Hdac was especially interested in implementing DLT-based solutions to the financial industry. Also, the DLT-based project has been completed by Hyundai Merchant Marine.