Category: Automobile Industry

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Blockchain advert shown to 30 million football fans

Categories Blockchain, Technology, Artificial Intelligence, Automobile Industry

Blockchain advert shown to 30 million football fans

Blockchain was catapulted into the mainstream during the World Cup match between England-Sweden. An advert by Hyundai was broadcast to over 30 million viewers during the halftime break, showcasing the benefits of blockchain technology.

The blockchain advert by Hyundai Digital Assets Company (HDAC) presented a high tech vision of what lies ahead and included both blockchain and The Internet of Things in the clip. On July 7th the ad was shown during the quarter-final break on both BBC and ITV.

IoT and blockchain solutions

HDAC was founded by Chung Dae-Sun, the nephew of the CEO Chung Mong-Koo back in 2017. The aim of the company is to provide top of the range and secure IoT systems by using both public and private blockchain solutions.

The clip used the word “blockchain” three times throughout and will have brought the concept to a whole new audience who may not have previously been familiar with the technology. The advert shows a family making instant blockchain based payments as well as living in a house that was protected by the technology. It presented a range of smart appliances and even a meter that automatically processed readings and made payments.

The HDAC website states:

“The technology can be applied to smart factories, smart homes, smart buildings, and various industries. Also, [machine to machine] transaction for mutual contracts and operation between IoT devices are implemented to bring a platform where rational consumptions and transactions are possible.”

A step in the right direction

But more importantly than just showing the potential of the product, the advert showed that the technology is trustworthy and not just some alien concept that would never be of use. With Hyundai backing this tech, any viewers of the advert will have a new perspective- a more credible one- with a name that they know and trust.

This is great news for crypto and blockchain as its reputation has sometimes unfairly been sullied by the actions of a few as well as criticism about its anonymous nature. Many have said it could be used for money laundering and other illegal transactions but the truth of the matter is that the good points far outweigh the bad. But for it to receive widespread adoption, its public perception has to change and this advert from Hyundai that reached millions is a step in the right direction.

 

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Cars and blockchain? Another use case presents itself

Categories Blockchain, Technology, IOTA, Tangle Technology, Automobile Industry

Cars and blockchain? Another use case presents itself

The automotive industry has long been considered as one of the most cutting edge and tech-friendly. From exciting new technologies such as AI and autonomous systems, stakeholders are not shy to lead the way. Blockchain is now being touted as another technology that can be integrated into the world of cars and machines.

Over the last 18 months, car manufacturers have been covertly picking up on the blockchain fever whilst trying to figure out how it can be integrated to suit their different needs.

Volkswagen and IOTA

For example, on June 11th, Volkswagen and IOTA demonstrated a proof of concept that utilises IOTA’s Tangle system for autonomous cars. This is just one way in which blockchain technology can be applied in the automotive industry.

Whilst we aren’t quite at the level of space-age apps and self-driving cars, companies such as BMW are using blockchain to keep track of the cobalt they use, to ensure that it is being mined ethically.

There are a large number of ways that blockchain can work within the automotive industry and some of these are being snapped up already. BMW, Mercedes, and Porsche have already put the tech to the test with various applications such as Mercedes safe driving programme that rewards drivers with cryptocurrency.

IBM and BOSCH

But it is not just the big players leading the way, manufacturers such as IBM and Bosch have entered the race, with the latter holding 958 autonomous car patents, way ahead of Audi who have 512.

Ford, BMW, Renault, General Motors and around 30 other companies have also come together to form the Mobility Open Blockchain Initiative that has come out of UC Berkley. Run by students and including members such as IBM and Bosch, it aims to promote blockchain within the automotive industry.

Formed on May 2nd, four leading car manufacturers launched a joint venture with a mission to increase the adoption of blockchain technology as well as to revolutionise transportation.

We are seeing an increasing number of blockchain use cases as the technology makes its voice heard in a number of sectors from corporations and banks to governments. But Brian Kelly, founder and CEO of digital asset investment firm Brian Kelly Capital Management stated that the motor industry is a new battleground for blockchain;

“This is a tectonic shift in the tech landscape, that has the potential to disrupt the growth plans of legacy tech into the auto.”

 

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