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Hyundai to track used car history through blockchain project with Blocko

hyundai used car blockchain tracking project

Recently Blocko announced that it has signed a Memorandum of understanding with Hyundai AutoEver. Blocko is a leading blockchain infrastructure provider and offers financial technology and public companies the capability to create, reposition, and manage services on distributed networks digitally.

Both these companies are collaborating to create a platform that can provide the complete and accurate history of used cars that are up for purchase. This platform will also help in promoting businesses in the automotive industry.

The platform is set out to be a Blockchain-as-a-Service one. The platform will include complete information about the used cars including the manufacturing date, previous owners and related information.

Smart contracts and other blockchain features are to be used to make the customer have the best experience possible.

Keeping Hyundai’s this venture in mind we can expect to see it integrating the blockchain technology in its businesses.

Hyundai can integrate technology in many sectors including logistics and in-house token economy etc. Hyundai is planning to expand into fields that may become successful in the future as well

Hyundai AutoEver’s Team Manager gave a statement regarding the matter saying that blockchain technology is going to revolutionize the automotive space.

The CEO of Blocko gave a statement that they will be collaborating with Lambda256 which is also a blockchain developer to create Hyundai AutoEver’s blockchain lifecycle system and to expand its range of influence by using already proven and tested technology.

The CEO is very optimistic about the project saying that they have done everything in their power to create a strong blockchain lifecycle system that can easily provide accurate information about cars for sale.

Hyundai AutoEver was started in early 2000 and has been expanding and improving ever since. Every new step it has taken is to provide good and better services to its customers. Its main niche is information system development and operation service.

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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