Hyundai backed Hdac Technology, a blockchain technology company founded by Dae-sun Chung, a president of Hyundai BS&C, signed a business agreement with TODAQ for strategic business cooperation at its headquarters in Toegye-ro, Seoul, on May 17th. TODAQ is a global fintech company with offices in Seoul and Toronto and operates across Asia, Middle East and Europe providing decentralised supply chain and customer solutions to global corporations, banks and governments. TODAQ’s platform is built on the decentralised TODA Protocol, which will be open sourced in the near future.
Hdac and TODAQ pledged organic cooperation for the development of innovative decentralised technology through this agreement.
In order to innovate blockchain technology, both companies will actively pursue joint projects and research and development based on the technological capabilities of each company. The TODA Protocol will be used to strengthen existing Hdac blockchain technology.
In addition, the two companies will make multifaceted efforts to establish close partnership between the two companies’ global business development; join with TODAQ’s other corporate partners on a global series of developer labs and hackathon competitions across Korea, North America, Europe, etc; and collaborate on building real economy usage cases for digital assets, including the HDAC token and the soon to be released TDN (‘TODA Note’).
“Based on our innovative technology, we will continue to carry out various projects for the development of blockchain technology with TODAQ. We will continue to strengthen cooperation with leading domestic and foreign innovation companies to provide more value to our customers.” said BuYoung Yun, Hdac CEO.
“We expect this agreement Hdac will bring both companies greater competitiveness in the development of decentralised business solutions and global expansion.” said Hassan Khan, TODAQ CEO and Co-founder.
Both companies also look forward to leveraging their respective markets and partners to mutual benefit. This year, TODAQ is concurrently launching retail, energy, education and pharmaceutical commercial projects across Asia, the Middle East and Europe. On the other hand, Hdac signed a MOU with Hyundai BS&C and GC Green Cross Healthcare in March for cooperation in the blockchain-based healthcare business, and is actively working on developing blockchain technology and expanding business by signing a partnership with India’s first blockchain project “Eleven01” in April to develop blockchain technology.