S. Korean Media: Electronics Giant LG Launches Own Blockchain Service ‘Monachain’
LG CNS, a subsidiary of South Korean LG Corporation that supplies information technology services, has recently launched its own blockchain-powered service, local Yonhap News Agency reports Sunday, May 13.
LG CNS’ own blockchain platform “Monachain” has been designed to enable blockchain-based logistics in the fields of finance, manufacturing and communication, according to Yonhap.
One of the main deployments of Monachain provides a digital authentication system, as well as a digital currency, and a digital supply chain management tool. As the local source reports, Monachain enables a new type of identification, a decentralized identifier (DID), that can be used for personal identification and online payments via smart devices.
