Category Archives: Crypto Token Sales
Hyundai “goes crypto”: President Dae-Sun Chung announces plans for the company’s first token generation event
Zug, Switzerland, November, 2017— HyundaiPay in cooperation with Hdac Technology AG, the multinational corporation based in Switzerland, announces 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. Hdac technology and Hyundai Pay will hold a TGE for the HDAC token on November 27th. The TGE will run on the Hdac blockchain, a separate entity apart from Bitcoin and Ethereum, which is maintained by the Hdac Technology group.
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 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. Integration of blockchain technology will solve various issues in terms of security in IoT:
Interconnected security risks: IoT devices are all connected, if one node on this network becomes compromised, this puts the whole fabric at risk.
Different security protocols and requirements of each device: These differences make integration slow and difficult at times.
Many points of failure exist, which makes monitoring a wide network of IoT devices at best difficult, at worst impossible.
Developments in blockchain technology enable greater transparency and trust, especially regarding payments, and can help secure all those self-driving cars, smart home devices, and even your FitBit that have flooded the industry in recent years.
The goal of Hyundai BS&C and Hdac Technology’s TGE is to support the continuing development of the Hdac blockchain, as blockchain technology has the ability to greatly enhance the security of the IoT. Hdac, which runs separately from the Ethereum and Bitcoin protocols, is based on hybrid blockchain technology, which offers a wider range of capabilities to ensure reliable connection and secured processing between devices. Hyundai will work to apply this pioneering platform to hardware payments applications and to enhance both their security and reliability.
Blockchain technology is the only way to achieve the level of security that Hdac technology and HyundaiPay aim to achieve. The Hdac blockchain addresses security issues by providing immutable information on top of smart contracts. It makes the automated security and transparency principles application over the platform, in a possible way that was previously impossible to guarantee.
“We are thrilled to hold a TGE in order to bring security and transparency to IoT devices,” said Dae-Sun Chung, Founder of Hdac Technology AG, “With more IoT devices hitting the market daily, our lives become more connected. Although there are many benefits to this, we open ourselves to great security risks. Blockchain technology, and special the Hdac blockchain, is the best way to leverage trust, transparency, and security on IoT.”
Blockchain-based bank for the global microeconomy adds additional expertise as they prepare to begin their token sale in late November.
LONDON, 04.10.17. Blockchain-based banking startup BABB has today announced that it is augmenting its technical team with the appointments of entrepreneur and fintech expert Jorge Pereira as CTO, and Adi Ben-Ari as Lead Technical Adviser.
The appointments come as the company approaches its Token Sale in late November, proceeds of which will fund the further development of the world’s first blockchain-based bank account.
As CTO, Jorge Pereira will bring with him a wealth of technical leadership experience across the payments and cryptocurrency space. Jorge will be leaving his position as Chief Technical Officer and Executive Vice President at FinTech startup Uphold to join BABB. He is also Founder of digital product development agency Seegno, where he continues to serve as Advisor.
Jorge has deep expertise in development of financial services products and technology, including key areas for BABB such as cryptocurrencies, distributed ledgers, regulatory compliance, KYC/AML, data analysis, security and risk mitigation.
Adi has been extremely active in the blockchain space for a number of years, having co-founded Applied Blockchain and number of other blockchain startups. He will advise BABB on delivery of a digital solution for BABB token buyers to pre-register and undergo KYC ahead of the token sale. He will also help to deliver the BABB app itself, having overseen delivery of over 15 blockchain solutions from startups to large corporates.
BABB represents the future of banking: offering everyone across the world access to a UK bank account, easily and instantly using their smartphone app. BABB is built on blockchain technology and uses biometrics to create digital identities for all participants and connect people across the globe. BABB’s goal is to reach every underbanked person in the world, totalling over 50% of global population, to catapult them into a new era of total economic participation.
Based on a private permissioned blockchain implementation of a distributed ledger using smart contracts technology, the BABB platform uses biometrics to deliver slick and secure UX, using AI/ML and data analytics to optimise match-making and control risk. The platform gives customers greater control and lowers the cost of banking for all, with P2P to decentralise some financial transactions while providing other banking services at a low cost, making micro-transactions economical.
“We are delighted to welcome Jorge and Adi to the BABB team,” said Averroes. “As we approach our token sale and the next stage of our journey in the development of the world’s first blockchain-based bank account, technical leadership has never been more important. We believe that the experience and expertise of our new CTO and Lead Technical Adviser will enable us to continue to build strong technical foundations to realise our vision.”
BABB’s token sale will take place in late November and the company anticipates launching its banking app before the end of the year. Anyone interested in finding out more can attend the BABB token sale launch party or pre-register for updates via the BABB website.