[2018-05-16] LG Electronics Launches Its Own Blockchain-based Platform

[Vladdirescu87]

The IT Electronics giant, a South Korean multinational electronics company, LG has launched its enterprise blockchain platform that according to developers can be put into various numbers of practical use in different sectors like manufacturing and finance.

LG’s subsidiary, LG CNS' own blockchain platform entitled "Monachain" has been created to enable blockchain-based logistics in the fields of manufacturing, communication and finance.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/lg-electronics-launches-its-own-blockchain-based-platform/

[dE_logics]

Interesting... I like LG as a company... As a Korean company, I wonder if the timing has to do with the news that Korea is softening their anti-crypto stance.

[SaintGraal]

It's interesting, seems LG is so crypto-oriented. Their former security employee Alex Bessonov launched its own startup Bitclave in digital ads and privacy sphere too

[Jating]

Yes I have to agree that its very interesting but no one should be surprise by this kind of move, specially huge companies who rely a lot on data to make their business decision. Recently, we heard tons of news about Blockchain which is very good because this technology has a lot of advantage that's why companies are shifting on it and slowly replacing their legacy systems.

I would be surprised if they didn't, because they are going to be left out and their systems going to be too complicated as data needs to be crunches to save time and money, and Blockchain is the solution.

[SaintGraal]

Yes I have to agree that its very interesting but no one should be surprise by this kind of move, specially huge companies who rely a lot on data to make their business decision. Recently, we heard tons of news about Blockchain which is very good because this technology has a lot of advantage that's why companies are shifting on it and slowly replacing their legacy systems.

I would be surprised if they didn't, because they are going to be left out and their systems going to be too complicated as data needs to be crunches to save time and money, and Blockchain is the solution.

Seems especially blockchain can be used for supply chains of any company. So many talks about this.

[Mezze]

Somehow I knew that LG is gonna be among the first tech companies to hop on the train.
Where's innovation you'll find LG(and Samsung).

[FUD Expert]

I grew up seeing a lot of LG appliances in our house I have never thought that they will make their own too. Even we lost so much interest in bitcoin from people, we've gained a lot of interests from huge companies in exchange.

[SaintGraal]

I grew up seeing a lot of LG appliances in our house I have never thought that they will make their own too. Even we lost so much interest in bitcoin from people, we've gained a lot of interests from huge companies in exchange.

Totally agree, but even small companies can benefit a lot. For example, EU recently discussed blockchain opportunities for small businesses.

[Mezze]

Totally agree, but even small companies can benefit a lot. For example, EU recently discussed blockchain opportunities for small businesses.

That's awesome to hear.
When companies start to adopt and implement the block chain technology prices will skurocket.
 

[zarados]

this is a major advance for cryptocurrency where giant electronics companies such as LG show support for cryptocurrency and even create their own cryptocurrency. That is, the awareness of the importance of financial technology will trigger corporate companies to take action before too late.

[Kemarit]

this is a major advance for cryptocurrency where giant electronics companies such as LG show support for cryptocurrency and even create their own cryptocurrency. That is, the awareness of the importance of financial technology will trigger corporate companies to take action before too late.

They are not supporting crypto but will used Blockchain Technology. Using this technology doesn't mean that you are fully going nuts and join the bandwagon. LG Electronics will be having its own private blockchain for logistics purposes because their business model is based everything on data. From Assembly -> Back-End -> Finished products involves a lot of information that Blockchain can be used and make their job much easier. Plus the money they can save using their technology and retiring their old and traditional legacy systems. But it doesn't mean that the price of crypto will skyrocketed just because big companies started adopting Blockchain.

[AdvancedTechnologyCoin]

Nice)

[newwest]

Even smaller players and startups are adopting blockchain technology, or at least considering it. So it should be no surprise that giants like LG take it seriously. Positive step in the right direction.

If every company start using this technology then we will have a very good future. Only thing is that they may also bring their own coin instead of using the existing one and this would mean that the demand of existing coins would start diminishing in future.

[gabbie2010]

LG is now following the foot paths of other companies who nows sees the benefits of adoption of blockchain technology mostly in chain supply and other sectors these are cost effective measures that will ensure optimum profits and LG is capitalizing on South Korea friendliness to the use of blockchain unlike fellow neighboring countries that are always on rampage and clamping down on exchanges that had adopted blockchain technology.

[alexKKK]

It's strange that Samsung and Google have not yet shown their products