Hyundai is creating a competitor for IOTA / Hdac review ($DAC)

All this time I have been talking about big companies coming to the blockchain space. Here is the example of another big name in the sphere of initial coin offerings. Hyundai BS&C, which is concentrated on construction and IT services in South Korea, will create its own blockchain specifically for the needs of Internet of Things. Of course, we must remind ourselves that it is not directly done by Hyundai, but it seems that in case of success of Hyundai digital asset currency, the huge Korean company could really help in project’s expansion.

It is certainly interesting to watch this kind of project being done by company that can easily integrate this into its most important products, buildings. Actually, Hyundai BS&C is already actively planning on constructing building that will be directly tied to Hdac blockchain but let’s not jump here and wait for my slide that will cover this topic extensively. Generally, I am happy that real profit-making companies are entering cryptocurrency sphere.

We believe that the future digital world will be a world where the Hdac platform operates a highly reliable blockchain network that can conveniently utilize the services of the world’s numerous IoT devices. It is said that “the currency of the new economy is trust,” and so it is paramount that new technologies be built on trust. The Hdac platform will be a key tool for implementing a more reasonable and efficient payment system as the worlds of blockchain, fintech and IoT converge.

The Hdac Token, a blockchain based smart token generated on the Hdac platform, is designed to perform a given task under the various commanding conditions in the IoT environment. Hdac provides these cryptocurrency functions and a simple payment service environment, and with the rationality and efficiency that the Hdac platform pursues, it will be the micropayment platform of choice for use with IoT devices.

In addition, Hdac will evolve into a cryptocurrency-based, fintech-specialized platform by providing a hardware wallet for user security and payment convenience in service of the aforementioned communication and payments between M2M and IoT devices.

We are creating a reliable ecosystem in which micropayment services run across the general Hdac space and the private, purpose-built objective blockchains by configuring the private and public blockchains so they are interconnected.

The use of private blockchains is only practical if they are able to interact with a public blockchain which is already operating. In this regard, we provide Hdac — a platform and cryptocurrency-enabled public blockchain that can be effectively used with multiple private blockchains. In other words, with our blockchain-by-use, micropayments are possible beyond the P2P settlement of the public blockchain. In a controlled private blockchain network, we implement Machine Currency for mutual contracts and payment between IoT devices, thereby enabling more accessible, reliable, and secure consumption and payment processes.

The Increasing investment value of Bitcoin

The Chicago Mercantile Exchange (CME), the world’s largest derivatives exchange, announced on October 31 that it is planning to begin futures trading of Bitcoin. Although the approval of the US Commodity Futures Trading Commission (CFTC) remains unsettled, the futures trading of Bitcoin is likely to commence, considering the CFTC’s tendency. With the launch of Bitcoin, expectation for the Exchange Traded Fund ETF has also increased. As the number of Bitcoin investors around the globe are increasing and Bitcoin is on the verge of entering the general financial market, the world regards Bitcoin as “the key currency of cryptocurrency”. This can be interpreted as Bitcoin being included in new investment assets. Although cryptocurrency such as Bitcoin is not recognized as a formal currency (fiat), trading in the CME means that it is recognized as an investment product such as gold. From the beginning of this year, Bitcoin value has risen by more than 600%, while gold and silver futures stopped rising at 11% and 7%, respectively. The New York Market Watch noted that this phenomenon was affecting the prices of gold, hinting a direct correlation between gold and Bitcoin. Bitcoin still has a high volatility risk. Even now, prices are fluctuating in a short period of time. Although it is not assured whether Bitcoin will become a stable payment method, short-term investors are putting high value to it as they consider it a useful asset in everyday life, expecting better use than that of gold or silver. Continuous interest and consideration will be needed to decide if Bitcoin will end as a bubble phenomenon, or if it will secure its status like gold as a stable currency in the crypto-world.

The reality of Ethereum, the second largest by market capitalization

According to EtherScan, an Ethereum statistics website, the total issuance of Ethereum to date (November 3rd) is about 95.7 million ETH with initial funding and foundation operating expenses being approximately 72 million ETH and new exploitation volume approximately 23.6 million ETH. In the first half of 2017, Ethereum, with technical superiority, was expected to beat Bitcoin or at the very least, stabilize itself as the second largest currency in market. However, although ETH / BTC ratio reached 0.15 in June, currently, it remains at 0.058. In other words, Ethereum is no longer a substantial threat to Bitcoin and its status. Ethereum plummeted as its gas-mediated transaction verification methods using smart contract technology caused a bottleneck phenomenon was revealed. This caused management crisis and serious issues for operators using Ethereum’s smart contract technology. Additionally, although the Ethereum Enterprise Alliance (EEA) had increasing number of alliance companies, they faced the limits of the impact put on technological differentiation. Once again, it was affirmed that a cryptocurrency that cannot be used in daily life is incapable of replacing Bitcoin.

Why Hdac? -Future, Linking with Everyday Life

So, why do we need Hdac? Even though there are a number of cryptocurrencies such as Bitcoin and Ethereum, Hdac not only is linked to everyday life but is also a cryptocurrency that will be far beyond just an investment method. It is predicted that in the near future, the fourth industrial revolution will create a highly connected society where digital innovation will prosper. Advanced technology will vitalize the future community by merging verified encryption currency, blockchain, and IoT (Internet of Things). Unlike cryptocurrencies with just investment values, the success of cryptocurrency depends on how frequently and conveniently it will serve in everyday life. Hdac will not only be beyond a profitable investment method but also a widely used payment method that enriches daily livelihood.

Hdac is based on the IoT Contract platform. It has much quicker transaction speed than other virtual payment methods and can be transferred almost instantaneously onto other IoT device environments. The goal is to dramatically improve the convenience of payments in contracts, settlements, loans and investments, taxes and bill payments, and car sharing. Cryptocurrency mimicking the environmental features of IoT had been introduced, however, but was not based on blockchain and had inadequate use case. Hdac is in the process of preparing sample cases based on its tentative application in the construction company, IT services, and automobile industry, paving away to reach into the global environment. It is expected to emphasize technological differentiation, lead reforms in the network of things based on trust in real life, and to increase its value by extending into various eco-systems as well as payment methods. Hdac will gain trust in the upcoming fourth industrial revolution as an outstanding application fintech platform that materializes efficient payment system, integrates blockchain and IoT.- ‘Transaction innovation’

Token AllocationThe total issuance volume will be 12 billion Hdac.

1. 17% of Hdac will be kept for capital reserve
2. 27% of Hdac will be distributed to the Hdac presale / TGE participants.
3. The remaining 86% of Hdac can be earned through equitable ‘ePoW’ mining.

The first block will reward will be 5,000 Hdac.

Pre-mined Hdac will be used as follows. (14% of the total)

Capital reserve (A+B : 7%)

A35% of pre-mined Hdac will be kept for capital reserve.
35% Capital Reserves

↠ B15% of pre-mined Hdac will be kept by Hdac foundation & Hdac technology AG for capital reserve.
1% Hdac foundation / 14% Hdac technology AG
The funds raised through presale & TGE will be used as below (C+D+E : 7%)

↠ C24% of pre-mined Hdac will be used to implement Hdac technology.
12% Hdac Core R&D / 5% Hdac IoT Hardware R&D / 7% Operation

↠D11% of pre-mined Hdac will be used for global marketing,
managing social media channels, advisors, and bounty programs.
11% Global Marketing

↠ E15% of pre-mined Hdac will be used to create infrastructure, ecosystem organisation, liquidity management and activation.

11% Strategic Partners / 4% Business Development

Advantages

• Established business of Hyundai BS&C

• Strong advisory board

• Clear vision

• Fast implementation of Hdac economy

Disadvantages

• Korean presale went unnoticed for cryptocurrency community

• Low % of tokens distributed (mining-based cryptocurrency)

• Reliance on 3rd parties’ software (MultiChain)

For more Information : 

Telegram chat of the Hdac: https://t.me/Hdac_TGE

Site: https://hdac.io/

Whitepaper: https://github.com/Hdactech/Hdac/wiki/Hdac-Technical-Whitepaper



Author : 

My Bitcointalk username: rezqiano

My Bitcointalk profil : https://bitcointalk.org/index.php?action=profile;u=1271152

My ETHERIUM Address : 0xBD40fE1dDEa0057D469b1c1Ac74637279F9056F5