LG and Kakao partner to link public and private blockchain

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LG and Kakao partner to link public and private blockchain

LG CNS, an affiliate of information technology solutions from the electronics giant LG, and Ground X, the blockchain arm of South Korean tech giant Kakao, have teamed up to expand the use of technology blockchain. The intention of the association is to apply the technology to markets Several Through a mutually – compatible infrastructure. The announcement was published by the news site. The Herald of Korea , This Thursday, November 21. The signing ceremony was held at LG Science Park in Magok, Seoul, and was Attended by the leader of the future strategic business division LG CNS Ha Tae-Seok and the CEO of Kakao Ground X Han Jae-seon.

At the time of signing the agreement, a representative of LG CNS Said That There Are Currently active projects “between chains” within the industry serve to connect That blockchain unique ecosystems. He added:

“WE WILL BREAK THE BOUNDARIES BETWEEN PUBLIC AND PRIVATE BLOCKCHAINS THROUGH THIS PARTNERSHIP AND COMBINE OUR STRENGTHS FOR NEW BUSINESS OPPORTUNITIES.”

A representative from Ground X added Klaytn That’s anchor technology (Kakao public blockchain the overall project) will solidify and give data reliability. blockchain provided by LG CNS, Monachain. E rated:

“THE COLLABORATION WITH KOREA’S REPRESENTATIVE IT SERVICES COMPANY LG CNS WILL LEAD TO THE GROWTH OF THE BLOCKCHAIN ECOSYSTEM IN THE COUNTRY.”

Launch and use of blockchains

The LG CNS Monachain blockchain private corporate platform was Launched in May 2019 . According To The Korea Herald, the platform’s initial objective was to support the local currency payments in “Chak” to Korea Minting and Security Printing Corporation responsible for printing bills, minting coins and developing government documents . ) This was the first time Considered to blockchain was used in the public sector. Now the platform has Already Been ADOPTED by the provincial cities of Siheung, Seongnam, Gunsan, Yeongju and Jecheon.

X Ground Launched ITS blockchain Klaytn public in June. The platform Provides a developer-friendly environment for blockchain coding and operation, and Actively seeks to popularize the use of blockchain Among society in general.

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