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Hdac Technology Signs MOU with Lordsystem to Build Travel Coin Based on Immediate Tax RefundAug 25th, 2021
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-Hdac and Lordsystem, a mobile passport identification DID platform company, partners to develop blockchain-based identification service to simplify the tax refund process for travelers with mobile wallets
-Plans to offer customized services by converting tax refund to Hdac’s Mainnet-based coin via Lordsystem partners
SEOUL, Korea, Aug. 19, 2021 –Hdac Technology ("Hdac”) today announced that it has signed a Memorandum of Understanding(MoU) with Lordsystem, a mobile passport identification DID platform solution company, to establish blockchain-based tourism service. The MoU will enable integrate Hdac’s Mainnet based cryptocurrency platform technology and Lordsystem’s mobile passport-based authentication solution to not only build blockchain tourism platform and issue coin viable in tourist areas but to expand the business globally.
Hdac and Lordsystem will jointly develop a blockchain-based mobile passport verification system to identify local and foreign tourists and provide VAT refunds after purchase. To offer the most tailored services, a VAT refund will be given as an Hdac blockchain-based coin. Based on the mobile passport identification service, the two parties plan to deliver contactless services in tourism, medical care, and finance for foreigners in Korea during the post-COVID-19 era and will expand the business into international markets.
The fintech company Lordsystem with mobile passport-based electronic banking and simplified payment solution is the first company in the world to develop a mobile passport and QR code payment-based mobile tax refund technology. The company also provides ZeroPay payment services.
Lordsystem’s mobile passport app “Trip Pass” is a blockchain-based encrypted authentication system, which provides a wide range of services such as mobile passport verification, simplified payment verification (SPV), mobile instant tax-free, and mobile transit cards for tourists including international students, foreign workers, and short- and long-term foreign visitors.
Hdac’s blockchain Mainnet “RIZON”, the Tendermint-based blockchain hub, will be adopted into Lordsystem’s mobile passport on top of the asset-backed stable coin. The inter-blockchain communication that connects various blockchain enables secure coin transfer between different chains, with high interoperability, versatility, and speed in the blockchain ecosystem. With the strategic partnership, Hdac expects to expand its Tendermint-based RIZON Mainnet’s DApp ecosystem and demonstrate practical use cases.