Korean IT-security vendor Penta Security Systems has announced its plans to create and implement a blockchain-based data market, “AMO,” in order to provide blockchain infrastructure in which car users, automobile manufacturers, and service providers can share and exchange data.
AMO Market will allow all participants to share and exchange various types of car data in exchange for AMO Coin, which can in turn be used to receive services, products, or even converted to other monetary assets.
Data security and efficient transactions over the blockchain are a key focus for AMO Market, and the infrastructure will be supported by various components, including a separate distributed file system secured by the company’s encryption technologies to protect personal information. The blockchain as a whole will be supported by the AMO Platform, which facilitates the peer-to-peer connections and manages data ownership, while retaining no access to the data.
AMO utilizes three main technologies that have already been developed by the Korean IT-security firm: AutoCrypt®, a connected car security solution; AuthentiCA®, an IoT certificate issuance and management solution; and Penta CryptoWallet, a secure hardware wallet with E2EE and key management for comprehensive security.