Bitcoin Forum

"On Sunday 16th, 2018, LG Uplus, the cellular carrier owned by LG Corporation, Korea’s fourth-largest conglomerate and parent company of LG Electronics announced its plans to join forces with other telecom partners in the United States, Taiwan and Japan to offer subscribers an overseas payment service solution built on blockchain."

What does this portend for Bitcoin and Crypto as a whole? Big game players taking interests again. Like Pwc the other day. This is good news i suppose. What do you guys think?

The full details here - https://cryptocoin.news/news/lg-uplus-to-test-blockchain-payment-solution-for-overseas-travelers-20348/

Good to see big players making blockchain moves, though they're not really accepting cryptocurrencies as we know them, rather instead using  blockchain to make their own internal payments system more effective. Either way, it's a step in the right direction and something we should be happy about.

Good news again LG one of the world most popular electronic company accepting blockchain technology which is an automatic acceptance of cryptocurrency such as bitcoin and the rest, this will further strengthen the acceptability of cryptocurrency by the general public as a mode of online payment without third party.

Good to see big corporation were interested to adopt blockchain technology but if they really do that but do not mean they will automatically use cryptocurrency and we have to see further informations regarding these statement that they really adopted blockchain or this is only planning for next future from their company and in my opinion i think it's too early if we associated with developing of cryptocurrency

Well, according to what I read to the link above I think they have a good reason why they are going to adopt the Blockchain technology.
Like what they said reason was " The platform will be based on a cross-carrier blockchain platform called CCPS (cross-carrier payment system). The billing for such purchases would be linked to the client’s direct carrier billing, enabling transactions to be paid through their carrier in their home currency avoiding fees on overseas credit card transactions, while also reducing risks associated with fluctuations of exchange rates and credit card fraud." Therefore, this could be a great to all of us as crypto/Bitcoin enthusiast, isn't?

Blockchain is a good and convenient payment platform, but it takes time, maybe by 2020  ;D

This indicates that bitcoin and other cryptocurrency are increasingly in demand by large companies as a new alternative payment tool, this is very positive for the development of bitcoin and altcoin in the future, does not rule out the possibility that in the future bitcoin and altcoin will be excellent in terms of alternative payments that can rival paypal or skrill.

The blockchain concept is indeed very interesting and can be applied to all financial aspects. and in general, finance requires something that functions quickly and easily. blockchain can do that.

Does that affect Bitcoin? I think it depends on the interest of LG UPLUS to use blockchain technology without Bitcoin. or both. surely, after blockchain is widely used, crypto is not difficult to know by the general public.

Strange news.

AT&T is on their way to centralizing and perhaps monopolizing the US telecom market with their purchase of Time Warner. With a great deal of effort and resources being invested in centralizing markets, its hard to imagine them inviting new players to participate in US telecom markets who could diminish the monopolistic nature of the centralized market they have strove to create.

That said, south korea is supposedly one of the most pro bitcoin and pro crypto nations on earth. They love crypto there. South korea could become a major hub of crypto finance/trading in the future. It could make sense for telecoms to want to ally themselves with what they perceive to be a future shift in power. Perhaps they would prefer to delegate the development process intended to compete with paypal, square, apple payments, etc.

I would be interested to know what the nature of this relationship is, should this news turn out to be true.

IMO this wouldn't change much for bitcoin and other cryptocurrencies. As time passes, the term 'blockchain' becomes vaguely used and largely dissociated from bitcoin, making it hard for the laymen to recognize that it originally came from bitcoin and not really the brainchild of giant capitalist companies.  It might make things better for LG but not really for bitcoin and its ecosystem. The blockchain slowly deviates from cryptocurrencies and is slowly making its way to the global economy by being embedded within companies' services and whatnot. It's great, but there's really no beneficial effect of it whatsoever for bitcoin.

Thats a great news. Great boost for blockchain to be more known in public. LG is adapting a less hassle mode payment and that will encourage more people to subscribe.

That's great news.Every day comes very good news regarding cryptocurrency and blockchain technology.This makes me very happy.No wonder I joined crypto.I hope this news will have a positive impact on the promotion of crypto

I don't see it as a great news. There are notable big companies that promote and use blockchain heavily, but they are for now against Bitcoin.
And what LG seems to do is their own blockchain for their own payment solution, something like their own private altcoin, possibly.

A good decision for the cellular companies that they should adopt bitcoin and crypto because in the future crypto will be use more than fiat in the world and most of the people are using crypto for payments and if now LG is the first one to accept bitcoin and use blockchain technology for further use. It will be good to make sure that LG fully use blockchain then other companies will follow the same but they would wait for others. If we use it for overseas payments the users will easily make transaction in it.

It is good that corporations are not waiting for ETF to start taking positive steps to start using blockchain. These moves could perhaps make adoption discussions quicker than expected. I'm optimistic that more will soon turn up to use blockchain.

Once again, I make sure that the blockchain is really a great technology ! But I noticed that the news about the blockchain does not affect the growth of bitcoin although this technology was first created for it !

This is a good news to the cryptocurrency world and the blockchain as the new revolution and as the digital bank which is run on a decentralized technology.

This is really a good news further showed the basis why PWC launched its own blockchain auditing services just last week which I know they wouldn't have launched such services without knowing there is a market for such services having released a report earlier about companies integrating blockchain in their processes without releasing names, this is a confirmation to that and it's expect that more companies will have to follow suit especially major competitors in the electronics industry like Samsung, Hisense, Toshiba etc.

The most interesting aspect of this roll out expected early next year is how barrier is being broken across borders where customers can buy goods directly and pay for it without having to go through the banks, exchange their currency to dollars or having to pay enormous fee related to charges for carrying out such transaction.

It's great for recognition and some awareness but in terms of direct influence on bitcoin or other crypto there will be little. A lot of major companies are already using blockchain technology but without cryptocurrencies. IBM being one example.

LG had really done well by incorporating blockchain into there payment system this singular act will bring bitcoin into limelight once again I believed  this good news will attract other organizations to look into how they can also adopt and put into this technology into use  with sincerity all this actions will have a positive impact on the price of bitcoin.