Hyundai to Use Blockchain to Pair Smartphones to EVs

April 9, 2019

Hyundai Motor Group, the largest carmaker in South Korea, has announced that it will use blockchain technology to enable the pairing of smartphones with its electric vehicles (EVs). With this move, drivers will be able to customize the primary settings of their EVs via a smartphone application powered by blockchain to prevent security issues.

According to Cointelegraph, the South Korean carmaker said in a statement that it expects to be the first car manufacturer to put blockchain-based technology to use in order to secure data that drivers input on the EV’s custom settings and share to the server.

Hyundai explained that its platform will encrypt major performance parameters using blockchain. The system will work by establishing new data blocks while the information is being uploaded and shared on the server, with the purpose of deterring data hacks from other parties.  

Drivers can adjust a total of 7 performance settings, from the EV’s maximum speed limit, responsiveness, and energy use on climate control to the maximum torque output of the motor, regenerative braking capacity, and acceleration and deceleration abilities.

Hyundai has also been keen to used fintech and blockchain to upgrade its services in other areas. Hyundai Commercial a financial services subsidiary of the conglomerate has announced a joint project with IBM that will focus on adapting the auto brand’s business model through blockchain technology.

The project will use open-source Hyperledger Fabric blockchain technology in order to develop a new supply chain financing ecosystem which will serve the Hyundai Commercial network.

Source: cointelegraph.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

 

Related Article
Blockchain: Fine-tuning the Music Industry
Music might be in need of another tech disruption in the form of blockchain.

July 17, 2019

Graph Blockchain Secures Contract with South Korean Transport Ministry
The pilot project is for storing traffic data on a blockchain network as part of the Smart City nati...

July 13, 2019

Hong Kong, a Great Place for Blockchain Startups
It is quite evident that Hong Kong is quite rapidly developing to be a blockchain hub in the region ...

July 12, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us