Hyundai Commercial, a financial service subsidiary of the leading South Korean carmaker, announced a partnership with American technology giant IBM to modernize the business model using blockchain. The news was announced on February 13th at IBM's annual technology and business conference in IBM's San Francisco, California, IBM Think 2019.
Hyundai is reported to be a ları corporate finance company that provides financial leasing and financial services for commercial vehicles and construction equipment Hyunda. IBM open source to create a new supply chain financing ecosystem for the Commercial network Hyperledger Fabric blockchain technology focus on using.
Hyundai, to accelerate the development of Blockchain IBM Collaborating with
Network participants, including car dealers, distributors and manufacturers, provide a real-time and shared view of all transactions of this chain, ensuring that data is managed and distributed efficiently in a secure manner. Technology will gain productivity gains by automating manual operations.
”The announcement also shows that Hyundai Card, a separate financial services subsidiary, will partner with IBM to implement machine learning technology to create an artificial intelligence-based chat for customer service.“
As previously reported IBM, blockchain The company is rapidly developing its based offers on financial services, supply chain, government, retail, digital rights management, health and insurance.
Hyundai's New Term Blockchain Project with IBM
Recent projects include blockchain to combat drought in the state of California Internet of Things (IoT) as well as a $ 700 million deal with Banco Santander, one of Europe's largest banks, to accelerate the Spanish bank's use of blockchain technology.
”As reported, Chung Dae-sun, the nephew of Hyundai Group and Motors CEOs - established a Korean blockchain based IoT platform and DAC token (DAC) distribution, as well as a fintech and blockchain subsidiary, HDAC.“
Earlier this week, hyundaipay He signed a Memorandum of Understanding (MoU) to encourage the growth of fintech initiatives in Busan, the second most populous city in South Korea.
Source: Cointelegraph