Electronics Giant LG focuses on the development of Blockchain, AI, IoT and branding strategy


LG CNS, a subsidiary of South Korea's multinational conglomerate, LG Corporation, announced a plan to strengthen its corporate offerings in seven key areas, including blockchain, according to an official press release published on August 22nd.

LG CNS plans to release new "strategic" brands for each of the seven newly developed technologies platforms – blockchain, artificial intelligence (AI), internet of things (IoT), smart city, intelligent factory, robotic service and intelligent energy – in order to promote the "Fourth industrial revolution" with its business portfolio.

Trademarks released, with similar designs but different names, are part of the LG CNS goal to develop "the efficient digital transformation of customers' business by providing the core technology of the fourth industrial revolution as a platform that customers they can trust ", underlines the press release.

ZDnet, the tech business outlet, reported that LG CNS plans to launch a still-to-be-named cloud platform by the end of 2018.

LG CNS's blockchain platform, Monachain, was launched in May of this year with the intention of providing customers with a new type of identification, a decentralized identifier (DID), which can be used for personal identification and online payments via smart devices. "

The" strategic brand "of the blockchain platform – which the press release describes as a combination of" science, philosophy and art, Leonardo Da Vinci's monumental work, like the Mona Lisa "- will help the platform to provide its three main services: "digital certification, digital community currency and digital supply chain management".

In June, the Taiwanese subsidiary of Microsoft collaborated with the China Binary Sale Technology and High Cloud technology investment company to create a platform for the development of business blockchains.And in July, the blockchain R3 technology consortium announced that it has released a new "version" of its chord blockchain platform specifically aimed at companies.

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