Major car manufacturers, Kia and Hyundai, have partnered with Hedera's blockchain to deploy the Supplier CO2 Emission Monitoring System (SCEMS).
Prioritising data accuracy, interoperability, and security, Hedera's representatives highlighted the significance of this collaboration in a recent blog post.
Unlike traditional blockchains such as Bitcoin or Ethereum, Hedera Hashgraph offers a fresh perspective on Distributed Ledger Technology (DLT). It operates on a directed acyclic graph, allowing data referencing from any block throughout the blockchain's history, in contrast to regular blockchains that validate data based on the previous block.
Seung Hyun Hong, Hyundai Motors' Head of Materials Research, emphasised the potential of blockchain technology in revolutionising carbon emission management and addressing climate change.
"Blockchain technology holds the key to a revolutionary approach in managing carbon emissions and combating climate change, ushering in a new era of sustainable supply chains within our cooperative network."
The implementation of real-time carbon emission tracking through Hedera Hashgraph aligns with car manufacturers' needs, enabling them to collect and process data more efficiently on this unconventional blockchain.
Hedera's blockchain encountered a serious security breach in March, where bad actors hacked the open-source ledger, resulting in significant backlash from crypto investors on Twitter.
Exploiting Hedera's smart contract service, the attackers managed to drain numerous wallets, causing losses of up to $575,000.
At the 2023 UN Climate Change Conference, Envision Blockchain showcased innovative AI and blockchain-based platforms using Hedera Hashgraph technology to enhance emissions tracking and support voluntary carbon markets.
YouQuanShinhan Bank, one of the oldest banks in South Korea, has announced the successful completion of a stablecoin remittance test on Hedera’s open-source public network.
BitcoinistHedera network is undergoing an exploit in smart contracts. Many dApps are impacted.
BeincryptoThe consumer electronics company, which has served on The Hedera Governing Council since 2020, is bringing NFTs to television screens through a platform built on the Hedera network.
CoindeskWith so many different cryptocurrencies available on the market, it can be difficult to decide which ones to buy into. ...
BitcoinistSometimes all you need to make that breakthrough purchase in crypto is to find a new cryptocurrency. A new cryptocurrency ...
BitcoinistAccording to May CPI figures, U.S. inflation is 8.6%. It's the highest since December 1981. The S&P 500 fell 4% ...
BitcoinistPotential investors are concerned about their funds and the future of their present investments since the cryptocurrency market continues to ...
BitcoinistHyundai has also hinted vaguely at a possible Metaverse, in line with its earlier concept of robots bridging the real and virtual worlds to enhance mobility.
CointelegraphHyundai also gave cryptic clues to a possible metaverse in line with its earlier concept for robots to bridge the real and virtual worlds to enhance mobility.
Cointelegraph
