HyundaiPay and Hdac holding TGE to bring blockchain to IoT payment platform

HyundaiPay in cooperation with Hdac Technology AG, the multinational corporation based in Switzerland, announced today its plans to hold a TGE (Token Generation Event), aiming to bring blockchain technology to IoT payment platforms and secure transactions amongst connected devices. Hdac Technology and Hyundai, specifically HyundaiPay are always looking for new and innovative technology to incorporate into their products, and the joint TGE will protect IoT devices and their users from hacks, privacy invasion, and external threats, especially for payments and transactions.

The Internet-of-Things (IoT) is making a visible and immediate impact on the tech industry these days and will be worth $270 billion by 2020. Connected devices, homes, and vehicles can already be found in advanced countries, and as anyone with experience in the industry knows, the complexity of ensuring safe financial transactions is close to impossible. Consider the security challenges involved in safely making an online payment on your phone in a public place. The vulnerability of security breaches is very high between connected devices. There is a high-security risk for office buildings, large convention centers, or even a connection home that is transferring data constantly throughout the day.

A network of economies and payment platforms in the IoT have to integrate blockchain into their system in order to offer integrity and confidentially to their users and to revoke the mystery behind this futuristic solution for security failures…

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