Hdac Technology Unveils The World’s First Enterprise Solution Combining Blockchain And IoT At The IoT Blockchain Summit 2018
Hdac Technology Announces its Enterprise BaaS Platform Built on ‘Hdac’ its Public-Private Hybrid Blockchain Platform.
The Company Unveils ‘H-UMBA,’ a Blockchain Adapter that Enables Compatibility Between Heterogeneous IoT Platforms for Blockchain-IoT Converged Services
Its Hardware Module ‘ASM’ Offers More Robust Security for Private Blockchains and The Highest Levels of Reliability for Enterprise Blockchains
Seoul, October 31, 2018 – Hdac Technology, founded by Chung Dae-sun, the CEO of Hyundai BS&C, has announced the launch of the world’s first enterprise solution combining blockchain and the Internet of Things (IoT) at the IoT Blockchain Summit 2018 in Atlanta, USA, which was held on October 29 to 30 (local time).
The event is a business conference, with 85% of its participants being key executives who have the decision-making authority in corporations. Unlike last year, when the focus was on the IoT industry, this year’s conference placed more emphasis on blockchain since the convergence of blockchain and the IoT has received keen attention from relevant industries in recent times. Representatives from more than 40 companies were in attendance, including IBM, Oracle, Siemens, Shell, Verizon, AT&T, Fedex, Airbus, and IOTA.
“There are companies who claim they have successfully combined the IoT and blockchain, but most of them are at the development or proof-of-concept stages,” said John Sang-ug Bae, Chief Operating Officer of Hdac Technology, in his keynote speech at the conference. “We have finished developing the blueprint and key technologies of our BaaS(blockchain-as-a-service) platform for enterprises, which marries the strengths of the IoT and blockchain, based on our public-private hybrid blockchain platform ‘Hdac.’ We are now accelerating the development of ready-to-deploy business and industry applications.”
Current IoT services have distinct platforms and architectures, making it difficult to control heterogeneous devices or build them into a blockchain network. There are few companies or nationwide standards with an integrated or universal architecture or transaction structure that enables communication between heterogeneous IoT platforms. This compatibility issue has served as a big obstacle to commercializing the IoT and implementing a blockchain convergence model. To address this challenge, Hdac has adopted the concept of an abstract blockchain layer and developed the H-UMBA (Hdac Universal Multitenancy Blockchain Adapter).
A key technology for Hdac’s BaaS solution, H-UMBA is the world’s first IoT platform architecture designed to manage and broadcast control information between heterogeneous IoT devices to their desired blockchain transactions. Hdac plans to offer an adapter package that supports multiple IoT platforms and blockchains in order to allow for timely development and universal usage, and to lead the commercialization and propagation of blockchain-based IoT services. The company has already filed a patent application for H-UMBA in Korea and is in the process of doing the same in key countries including the USA, the UK, and Germany.
“Hdac BaaS will enable companies with either blockchain or IoT capabilities only to easily implement services which combine both technologies,” said Bae. “Service is key if blockchain, a technology with the potential to lead the Fourth Industrial Revolution, is to take firm root in our day-to-day lives. We will continue to facilitate the growth of blockchain and IoT technology communities through our open source and open-API policies.”
Bae also explained Hdac’s ASM(Advanced Security Module), which was unveiled at the Connected World Summit 2018 held in London earlier this month. ASM is a hardware module designed to secure the seed node that are generated first on a private blockchain. It provides more robust levels of security by adopting the Quantum Random Number Generator(QRNG). This allows enterprises to build more reliable services. Hdac has filed a patent application on its ASM as well.
Michael Yoon, CEO of Hdac Technology, said, “Since the IoT and blockchains started being hailed as key technologies in the Fourth Industrial Revolution, a host of companies from startups to global tech giants have scrambled to get ahead of the game. This is getting in the way of commercializing the two technologies. We will embrace both of them to usher in a paradigm shift and lead a true convergence of the IoT and blockchain.”