Blockchain firm Hdac technology, instituted by Hyundai BS&C CEO Dae Sun Chung, has announced its plans to launch a new blockchain project ahead of 2020. This information was made known to the public at the Korea Blockchain Week held at the Grand Intercontinental Seoul Parnas.
Marketing Director of Hdac Korean branch Nicolas Jacquet revealed that the company had initiated the development of the new blockchain project called ‘Friday”.
Friday Blockchain To Be Built On Consensus Algorithm
Friday blockchain, built on a Proof of Stake (PoS) consensus algorithm, sought to build balance between the core values of blockchain technology which are Scalability, decentralization and security.
The project would also work on providing solutions that integrates IoT and payment services by ensuring increased scalability and processing speed for smart contracts. Hdac believes that the Friday blockchain would also have a good impact economically as it would devise a fairer means of compensating holders’ contributions to its ecosystem.
In addition, the blockchain project will also be equipped with new tools to evaluate the overall level of contribution from holders by calculating Node Uptime and Block Proposal Rate. Hdac anticipates that it would be able to launch the Testnet for ‘Friday’ in November and the Mainnet is scheduled for the first quarter of 2020.
It is understood that the Hyundai backed blockchain has signed a collaboration deal with popular startup CasperLabs with both firms developing a Virtual Macine based on WebAssembly. This initiative is aimed at providing a suitable smart contract development environment for programmers.
Hdac mentioned that it is working together with the Manufacturing Engineering Research & Development Center of Hyundai Motor Company to explore various blockchain-based project.
However, through its collaboration with Hyundai Motor Company, another Proof of Concept would be created with a construction company from pan-Hyundai group with the aim of merging open smart home service platform with blockchain technology.
Hdac Also Plans To Foray Into Esports Marketing
Apart from the announcement of the development of the blockchain testnet, Hdac also revealed that it will venture into esport marketing. This new initiative would be aimed at millennials and Z-generation who are expected to play a leading role in this sector of blockchain technology.
Earlier in the year, Hdac signed a sponsorship contract with pro esport team G2 Esports as it looks to make inroads in the esport market.
G2 are one of the most popular esports team in Europe, and Hdac intends to maximize this exposure for their new marketing venture. The blockchain firm intends to utilize a multifaceted marketing approach using popular gaming media channels like Youtube and Twitch.
Hdac intends to recruit popular influencers to promote its blockchain platform and has inked a partnership with local esports channel SBS Afreeca TV.