The huge South Korean appliance company LG announced that it will launch its own blockchain platform, and it will be called “Monachain“.
The project, developed by the company’s technological information service, was designed to “improve logistics”, based on a block chain system, which would make the finance, manufacturing and telecommunications sector more efficient.
Monachain would offer authentication and digital certification, using a decentralized identifier, which is presented as a new way of verifying identity. According to experts, using DID, Monachain users can perform both personal identification and online payments through their mobile devices, in a much simpler way.
The network is also presented as a tool for managing the digital supply network. In addition, with Monachain users can create their own purses on the platform and manage their digital currencies, to using the financial services offered by LG CNS.
N. Moncada
Source: CriptoTendencia
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