- Two South Korean car makers choose Hedera to track carbon emissions.
- The innovative move comes as the latest attempt to fight climate change.
- Hedera’s AI technology allows for setting CO2 reduction targets.
Kia and Hyundai, two of the world’s largest car manufacturers, turned to Hedera’s blockchain to implement the Supplier CO2 Emission Monitoring System (SCEMS). In an official blog post about the new collaboration, Hedera’s representatives explained that data accuracy, interoperability, and security were the main priorities.
Hedera’s Unique Approach to Blockchain
Indeed, Hedera Hashgraph brings something new to the table with DLT (Distributed Ledger Technology). Compared to the usual blockchains like Bitcoin or Ethereum, Hedera transfers the data on a directed acyclic graph. This unique consensus allows referencing any data from any block in the blockchain lifespan, while the regular blockchains validate data according to the previous block.
Here’s what Seung Hyun Hong, Hyundai Motors’ Head of Materials Research, noted:
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“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.”
Implementing real-time carbon emission tracking via Hedera Hashgraph makes sense for car manufacturers, who can collect and process data faster on this unconventional blockchain.
A New Enterprise Favorite on the Rise?
With the SCEMS system seeing the light of day, it’s obvious that Hedera Hashgraph is becoming a top choice for commercial and industrial entities. This trust remains even though Hedera’s blockchain experienced a heavy security breach in March.
During the incident, bad actors hacked the open-source ledger to drain numerous wallets. Hedera’s smart contract service was exploited for $575,000, while the incident resulted in an immense backlash from crypto investors on Twitter.
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However, it seems that Hedera worked on preventing such security breaches from happening again – Hedera’s developers identified the root cause soon after the March 9th incident.
In a nutshell, major corporations have plentiful choices for incorporating blockchain into their production. While Polygon (MATIC) is the official top choice for big brands, it should be pointed out that Hedera’s partnership list continues to grow in a similar fashion.
While Polygon has a high reputation security, a TOP 10 position by global market capitalization, and has shown resilience to the trials and tribulations of the crypto winter 2022, Hedera presents something completely different. Hedera’s unconventional blockchain is a ledger that can track data from anywhere on-chain rather than just the previous block with full EVM compatibility.
On the Flipside
- The breaking news about Hedera’s assistance in tracking carbon emissions for Kia and Hyundai didn’t reflect on HBAR’s price.
Why This Matters
Blockchain partnerships with big retail brands present new utility cases crucial for crypto adoption.
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