You've heard of the Internet of Things (IoT), you've heard of Blockchain, now there is IoT on the blockchain. Hdac (Hyundai Digital Asset Currency) who are backed by Hyundai, are raising a token for their platform which will allow payments between people, peer to peer, and also machine to machine. This will allow payments only for goods and services that you use immediately. This could be for rental cars, accomodation, internet, electric, water, sexbots, etc, the possibilities are endless. Together with the interconnectivity of IoT devices, Hdac will perform as a Micro payment platform. Hyundai BS&C is already building an apartment complex called Herriot that will use HDAC.
Taken from their Whitepaper their philosophy is "Beyond Human Pay"
The Hdac platform will create a trusted basis for the fourth industrial revolution by combining the blockchain and IoT as an applied platform using fintech technology, creating a logical and efficient payment method, fulfilling the philosophy - ‘Beyond the Human Pay’.
The philosophy lies with dramatically improving the payment environment in daily life using the Hdac platform. Examples of payment in daily life includes contracting and payments, loans and investments, taxes and bills. Additionally, it will allow the users to boost rational consumptions including telecommunication and energy expenses, making ‘smart management’ possible.
Hdac use ePoW to mine their blocks, a mining algorithm to secure the network and reduce energy consumption with Proof of Work. Each miner is allowed a time block window to mine and after they have mined they will have to wait for their next window to mine again. Hdac is based on https://www.multichain.com/ which is itself based on Bitcoin. The transaction throughput is expected to be 1000 transactions per second. There are advantages and disadvantages to PoW, PoS and DPoS, you need significant resources to be able to "take over" a network with each algorithm. If you were detected the value of the network would likely plummet anyway.
Hdac allow public and private chains which will allow information to flow between the two using a Bridge Node. They will also allow customised digital tokens, similar to ERC20 or SMTs.
On their roadmap it states they will be releasing their own hardware security module which can enhance the security of the mining node. There will be a "quantum random number" used to generate keys instead of a pseudo random number, resulting in wallet address collisions. This would mean two people generating the same public and private key pair and being able to spend each others coins. Highly unlikely to happen but there are projects out there trying to detect keys https://lbc.cryptoguru.org/about the more random the seed the more secure and harder to crack.
Hdac Token Generation Event Window 27 Nov. 09:00 - 22 Dec. 23:50 Target of 6000 BTC (On 15/11/2017 is $43.5 million) they will not be using an ERC 20 token as is the norm of today. They raised 13,000 BTC in presale from Asian markets but are still relatively unknown in English speaking / western markets.
Whitepaper is available here https://github.com/Hdactech/Hdac/wiki/Hdac-Technical-Whitepaper
http://Hdac.io
https://t.me/Hdac_TGE
Competitors https://iota.org/
Do you know of others?
This is not investment advice, always Do Your Own Research DYOR!