The popularity of cryptocurrencies and Blockchain technology has increased the partnerships and collaborations in this field.
At this point, the latest news came from Hedera and South Korea's two biggest automakers, Hyundai and Kia.
Announcing the partnership, the HBAR foundation said that Hyundai Motor Company and Kia Corporation are offering a CO2 Emissions Monitoring Solution based on the Hedera network.
In its blog post, the HBAR foundation stated that Hyundai Motor Company and Kia Corporation have launched the blockchain-based Supplier CO2 Emissions Monitoring System (SCEMS) on the Hedera mainnet.
“SCEMS is designed to calculate carbon emissions at every stage of the supply chain, enabling Hyundai Motor and Kia to secure reliable data on its supplier's business operations, including raw material sourcing, manufacturing process and product shipping.”
Shayne Higdon, Co-Founder and CEO of the HBAR Foundation, stated that the foundation actively addresses climate change and supports sustainability practices, saying:
“Hyundai Motors and Kia's carbon emission monitoring system is based on the study of sustainability, which is one of the pillars of the HBAR Foundation's mission.
We are proud to support a number of carbon offset and traceability projects included in the Hedera network.”
We’re excited to announce that @HMGnewsroom, the largest car manufacturer in South Korea, and @Kia have introduced an #AI-enabled supply chain carbon emissions tracking solution on the highly scalable @Hedera network 🇰🇷 pic.twitter.com/PiI7sUfE9G
— HBAR Foundation (@HBAR_foundation) August 2, 2023
Hedera network altcoin HBAR rose over 5% after the news. HBAR listed on Binance went up to $ 0.054.
*Not investment advice.
