Hyundai Will Be Using Blockchain Technology For Smartphone-EV Pairing Tool

by | Apr 23, 2019 | Blockchain, Cryptocurrency, Cryptocurrency News

Hyundai | Blockchain Technology | Smartphone-EV Pairing Tool |Smartphone | Car

Hyundai Motor Group, South Korea’s largest car manufacturer will employ blockchain technology for pairing electric vehicles (EVs) with smartphones. As reported by Green Car Congress, a Sustainable mobility-focused news agency on April 22.

Reportedly, Hyundai announced the development of smartphone-EV pairing based performance adjustment technology that will enable users to customize primary functions via a smartphone application. Claiming it as an industry-first, Hyundai will reportedly implement blockchain technology to prevent security issues while users upload and share their custom settings on the server. 

The upcoming system will encrypt major performance parameters on a blockchain network through data blocks, creating in the process of uploading and sharing custom settings. As such, this will prevent unauthorized manipulation of data.

As per the report,  drivers could purportedly adjust seven performance features such as acceleration and deceleration abilities, the maximum torque output of the motor, regenerative braking capacity, responsiveness, maximum speed limit and energy use on climate control.

 Hyundai’s financial services subsidiary, Hyundai Commercial, collaborates with American tech giant IBM, earlier this year in order to transform its business model with blockchain. The partnership is focused on deploying open source Hyperledger Fabric blockchain technology to create a new supply chain financing ecosystem for the Hyundai Commercial network. 

Read more: Guangzhou, China Issues Business License Using Blockchain and AI

Image source – Unsplash.com

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