LG CNS, a subsidiary of South Korean multinational conglomerate LG Corporation, has declared a plan to reinforce its enterprise offering in seven newly emerging technologies including blockchain.
LG CNS is planning to release a new “strategic” brands for each one of the seven platforms of newly emerging technologies — blockchain, artificial intelligence (AI), internet of things (IoT), smart city, smart factory, robot service, and smart energy — keeping in mind the end goal to promote the “fourth industrial revolution” with its enterprise portfolio.
The released brandings, with similar designs but unique names, are a part of LG CNS’s aim. LG CNS wants to build up the efficient digital transformation of customer business by giving the core technology of the fourth industrial revolution as a platform that clients can trust.
LG CNS’s blockchain stage, Monachain, was launched in May of the current year. It expected to provide customers a new type of identification, a decentralized identifier (DID). It can be utilized for individual recognizable proof and online payments via smart gadgets.
What Is Monachain?
The “strategic branding” of the blockchain platform is named Monachain. It is described as a blend of science, philosophy, and arts, Leonardo Da Vinci’s monumental work, such as the Mona Lisa. It provides its three core services: digital certification, digital community currency, and digital supply chain management.
The digital certification verifies the identity of the user by utilizing biometric data. A personal identification number (PIN) of a personal portable device such as a smartphone or fingerprint can be utilized.
Digital community currency is an ideal service for local currency issuance and welfare benefit payments of local government.
The Digital Supply Chain Management (SCM) work rapidly imparts a variety of information from product production to client conveyance to every partner.
Business tech outlet Cointelegraph reported that LG CNS along with strategic branding of newly emerged technologies, it has plans to launch a “yet-to-be-named cloud platform” before the finish of 2018.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]