LG launches a Blockchain platform via its subsidiary LG CNS
The subsidiary LG CNS belonging to the South Korean multinational LG has just announced the implementation of a blockchain platform dedicated to various uses.
As KoreaTimes reports, LG CNS said it has launched its own Blockchain service. Called Monachain, it will provide Blockchain solutions in areas such as finance or telecommunications.
The firm explains that the internal platform allows digital authentication and digital token management. Through a digital certification system, users can use a decentralized identifier called DID to send/receive funds or create a portfolio with different tools.
“Even further, Monachain can help business owners boost productivity as the company provides a digital supply chain management system that enables suppliers to manage the entire production processing efficiently,”
the company said in a statement.
The name Monachain was not chosen at random and refers to Leonardo da Vinci’s famous painting. Chain for Blockchain, Mona for queen in Greek, then for the company Monachain means “Queen of Blockchain”.
We also learn that the group is in partnership with the very famous Blockchain consortium R3 based in New York and that it is a member of the Open Blockchain Industry Association (OBCIA).