Crypto

The electronics giant LG is launching its own Blockchain platform, Monachain

 Electronics giant LG agrees to develop digital bank business
LG giant deals with development of digital bank business

According to Yonhap, South Korea's local media, South Korea's subsidiary LG LG CNS has recently launched its own Blockchain platform. The electronics giant LG is considering moving forward with its blockchain platform, Monachain

The electronics giant LG is negotiating to develop digital banking business

According to the news agency, LG CNS has its own block chain Monachain; designed to enable Blockchain-based logistics in the fields of finance, manufacturing and communications.

Monachain has introduced a new identity definition and a decentralized identifier (DID) that can be used for personal identification and online payments with smart devices.

Monachain's primary distribution is providing digital authentication systems as well as digital money and digital supply chain management tools. It provides. In addition, Monachain allows users to open a digital wallet and execute financial operations.

LG has partnered with R3, a blockchain consortium

a representative of the LG CNS, said:

More recently, LG CNS has been trying to make an agreement with domestic banks to deliver digital banking business to wider masses.

In May of 2017, the LG CNS announced that it has launched a blockchain consortium of more than 200 companies, the R3, which is a consortium of more than 200 companies,

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