Cryptocurrencies

LG gives support to Vietnamese blockchain project KardiaChain – Cryptocurrencies

LG blockchain kardiachain vietnam

Interoperability, a blockchain for the general public: 2 areas of development that should now be essential for blockchain projects. KardiaChain (KAI) forms a partnership with LG CNS, a few days before the launch of its mainnet. LG joins the rank of validators on the latter.

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Monachain and KardiaChain follow one another

LG participates in a blockchain initiative at Vietnam, through its IT and consulting branch.

According to a statement released on December 17, LG CNS has entered into a partnership with the project KardiaChain to become a validator on its mainnet, which is scheduled to launch at the end of December 2020.

KardiaChain KAI LG

Other validators include large Vietnamese companies such as the conglomerate Gleximco, the technology company HPT Vietnam and the taxi company Mai Linh Group.

As part of this partnership, LG CNS could combine its own blockchain, Monachain, with that of KardiaChain.

Launched in 2018, Monachain provides blockchain-based digital authentication and supply chain management tool.

The collaboration between the 2 companies would focus on the design of applications relating to decentralized identity and technologies for smart cities.

LG has been busy in 2020

This new partnership comes two weeks before the launch of the mainnet of KardiaChain scheduled for December 29, 2020.

The CEO and founder of KardiaChain, Sorting Pham, said their goal was to provide a blockchain accessible to millions of users. According to Pham, KardiaChain is the 1st interoperable blockchain ofSouth East Asia.

LG Corporation has explored several areas of application of blockchain in recent years.

In May 2020, LG Electronics joined the board of directors of Hedera Hashgraph, a distributed public accounting platform for businesses.

LG CNS was also associated with the American company Evernym for the development of international standards in terms of digital identity within the World Wide Web Consortium.

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LG would have designed a blockchain smartphone to compete with that of Samsung, Klaytn.

Another blockchain project that will likely be forgotten or a future must-see giant in the cryptosphere? South East Asia will therefore see the birth of its first interoperable blockchain just before the end of 2020. LG is continuing its plunge into the blockchain universe. The entire smartphone industry will probably have to invest more and more in blockchain to avoid falling into obsolescence in a few years. The “blockchain pressure” on all industries is just beginning.

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