The electronics giant LG launched its own Blockchain platform: Monachain

LG CNS, a subsidiary of LG based in South Korea, recently launched its own Blockchain platform, according to Yonhap from local media.

Monchain, the LG CNS's own block chain,

One of the main distributions of Monachain, along with digital authentication systems, provides digital money and digital supply chain management tools.

Monachain also offers users the ability to open a digital wallet and financial operations. According to the report, LG CNS is trying to make an agreement with domestic banks to deliver digital banking business to wider masses. "

" Further, Monachain can help increase business owners' productivity by providing a digital supply chain management system that enables companies to efficiently manage all their production processes. "

A representative of LG CNS said: In May of 2017, LG CNS partnered with R3, a Blockchain consortium of more than 200 companies.