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Hdac Technology Participates in the Investment Fund Creation in the Amount of 32 Billion Won with T InvestmentDec 4th, 2019
December 4, 2019, Seoul – Hdac Technology (“Hdac”), a blockchain technology company established by Dae-Sun Chung, the founder of Hyundai BS&C stated on December 4th that it will be launching forth to create a blockchain ecosystem by participating in the investment fund creation in the amount of 32 billion won with T Investment Co., a venture capital company.
T Investment is a new venture capital company established in January 2019 in which SK Securities etc., has been participating as one of the major shareholders. The fund named “T Investment Startup No. 1” in which Hdac has participated aims to select core businesses with high growth potentials in the fourth industrial revolution, discover startups and invest in them to foster them into unicorn companies.
As a leading company in the global blockchain industry, Hdac plans to assist the growth of promising startups by supporting the C.I.A. (Consulting, Incubating, Accelerating) on top of capital investment, and further strengthen the DApp ecosystem by securing use cases of Hdac blockchain and improving utilizability.
Yong-Wan Ju, the representative officer of the Korean branch, stated, “Business performance should be secured based on the technical advancement, and this applies to all the other companies not only blockchain companies. We will lead the vitalization of various blockchain integration services by discovering, investing in, and fostering small but mighty startups that have platforms, technology, solutions, etc.”
Taewhoon Kim, the CEO of T Investment, stated, “Added to T Investment’s expertise in market analysis and investment, Hdac’s blockchain and ICT capacities has enabled us to establish foundation to encompass the key areas of the fourth industrial age such as AI, robot, Fintech, 5G, bio-health, etc. Through this, we will be able to create a healthy venture ecosystem by fostering companies in the areas of ICT integrated services and contents and creating a variety of successful cases.”
On the other hand, Hdac is planning to unveil a new blockchain in the way of PoS (Proof-of-Stake) during the first quarter of 2020, and prior to this, start the test-operation within this month by launching the testnet. The new mainnet focuses on securing sufficient scalability and processing speed suitable for IoT as well as DApp and payment service environment and realizing the Smart Contract functions.