Hyundai Heavy Industries would invest $ 6 billion a year in the Blockchain

Business Crypto News

The world’s largest shipbuilder, Hyundai Heavy Industries , continues to develop its Blockchain platform called HiPRO to manage its operations from assembly plants to commercialization. According to information relayed by Hanguk Kyugjae , the company plans to process $ 6 billion for negotiations, contracts, payments and other activities from the platform.

A relentless Blockchain for Hyundai Heavy Industries

The opportunities offered by the Blockchain in the logistics sector are no longer present.

For big names like IBM , Walmart and other chain retailers, the technology promises unique transparency and organized, secure management that makes it easy to control data and activities.

With this in mind, Hyundai Group is continuing its efforts to launch its own Blockchain, which will be used by Huyndai Heavy Industry, the largest shipbuilder in the world.

This platform, named HiPRO, will manage the company’s production line from factories, purchasing, materials logistics, to negotiation, collection and payment contracts.

The Ministry of Science behind the Blockchain

In addition to Hyundai, which has invested heavily in this technology through its subsidiaries like Hdac Technology which will market cryptocurrency for construction, real estate and production financing, other South Korean projects are in development course, thanks to the support of the Ministry of Science, Technology and Informatics.

In fact, this political institution in collaboration with the Korea Internet Development Agency (KISA) has announced an evaluation program “the progress of 15 public and private pilot projects underway, based on Blockchain” .

What do you think of this Blockchain project prepared by Hyundai? Comment in the comments section.

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