LG Blockchain - Huge News
Huge News in my view for Blockchain
I remember there were some rumours Steem(it) Inc would be acquired or so by Korean Tech giant LG Electronics last year which were nonsense I think - but LG is moving forward with its blockchain efforts now. Or is this still a rumour?
With Food Ledger and Crypto Trademark they announced a major ambition now, at least it looks promising and would help mass adoption:
On July 2, the firm filed a trademark application on that describes an electronic wallet that may contain capabilities for cryptocurrency. Additionally, LG CNS, the firm’s IT subsidiary, announced that it will add food distribution services to it’s Monachain distributed ledger, according to ZDnet. While a registration doesn’t define a company’s strategy it is an interesting insight in the electronics giant’s future plans.
Electronic Wallet
Quote from Coindesk:
ThinQ Wallet, registered with the United States Patent and Trademark Office, will provide transaction, brokerage, and settlement services for a number of devices including mobile phones and computers.
The registration also lists use cases for blockchain, cryptocurrency, and the “issuance of cyber money,” though the majority of listed applications involve traditional credit and banking services. ThinQ is a trademark currently used by LG to indicate products integrated with AI. LG has successfully tested a number of blockchain applications in the past two years. The firm designed a pilot in September for a blockchain-based international payments mobile service under its cellular carrier LG Uplus. In June, LG signed on with pharmaceutical firm Celltrion and UnionBank to council the Klaytn blockchain launched by South Korean messaging app giant Kakao.
What does the community think, what do our Korean friends know about this?
I know the company a little but as we did their PR in Europe not that long ago so I am also checking right now with my old contacts there and will let you know any news if they can give somethign authorized - my guy is in the top comms level there.
Read more here: https://www.coindesk.com/lg-expands-blockchain-applications-with-food-ledger-and-potential-crypto-wallet
This doesn't sound like a public ledger that they are building so I'm not really interested in this.
I hope that the most successful blockchain projects will be the public chains and not some private company backed chain like libra and co.
No idea on the ledger thing, agree I do not want Libra Facebook stuff - but I am confident LG is totally different - Korea is one of the first movers on blockchain and crypto. In Korea you can buy bitcoin in shops like German Kiosk. Even they introduced some tougher legal things I am hopeful that with LG - ok I am biased - a trustful and nice brand will help to bring this towards mass adoption.
But I do get your points!
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