LG had Confirmed its Blockchain Smartphone Intentions and South Korea welcomes Blockchain drivers

LG had Confirmed its Blockchain Smartphone Intentions and South Korea welcomes Blockchain drivers

LG had Confirmed its Blockchain Smartphone Intentions

Electronics giant LG has just confirmed that the company is considering the launch of a new blockchain-powered smart phone – confirming earlier reports.

From a report from the media outlet and news site Fn News, an LG spokesman stated, “We are in preparation of the necessary advancement required to permit the use of the blockchain technology onto mobile phones.”

The media outlet has also said LG was positive thinking about the release of a blockchain powered smartphone. LG’s wildest domestic competitor , Samsung, has just released a blockchain phone at this month that is in conjunction with the Kakao secondary Ground X.

Also some of the Samsung devices have already supported multiple cryptocurrencies and cryptos and dapps (decentralized apps).

LG has just also spoken out onto the subject of some recent patent application, which is lodged in the great United States, for a crypto currency wallet whose name is the ThinQ Wallet and Exchange.

The company has stated, “Patents are only billeted in order to arrogate the market. It is too early to just predict to what extent and degree the [wallet] will be and stay implemented, or which devices and gadgets it will be used hand in hand with.”

However, the so called wallet’s name is not that insignificant. The LG company has just released a wide range of flagship devices called ThinQ electrical devices, which many of them make use of and incorporate smart and Artificial Intelligence technology.

And The LG is thought the one to be keen to dig and make up a ground on the rival Samsung, which has incorporated a blockchain wallet security feature on its new Galaxy S10 device, released in February this year.

LG’s IT services firm, LG CNS, has recently been working on a wide number of blockchain related projects, including a big main-net and token of some sort with the help of with KB Bank. The LG and also its subsidiaries also take three seats on the administration board of Ground X’s Klaytn Blockchain platform.

In the Meanwhile, the well known market research firm MarketsandMarkets has said recently that blockchain devices market is very highly expected to grow from 218 million USD in 2019 to 1.285 billion USD by 2024, which is at a compound annual and yearly growth rate (CAGR) of 41.5% in this time base period.

Moreover, wireless communication for blockchain devices is evaluated to grow at higher levels of CAGR during just the forecast period which is from 2019 to 2024.

South Korea Welcomes Blockchain-powered Driver’s Licenses on Mobiles

South Koreans will in the near future go away from plastic driver’s license cards and use an ID solution that is powered by a blockchain technology which is for smart phones and devices. Or, at least, we know this is the plan.

The country’s department of Science and Information and communications technology has approved a program whereby all three of country’s major mobile carrier services ( KT, SK, and U+, LG ) will operate an application that stores digitized editions of driver’s licenses on client mobile phones.

The South Korea police force has just also green-lighted the move.

Drivers will become able to use the new app, whose name is Pass, to do scan existing driver’s license.

These will be endorsed by police software, and be uploaded to a blockchain-powered computing platform that makes use out of police servers.

Once the driver has do the upload of the scan, the app generates a QR code. Police cops will then be able do scan this QR code thing and then view the scanned driver’s license on their all owned handsets.

The ministry says that blockchain-powered solution will help to “reduce costs and prevent violations caused by the loss or theft of the ID cards.”

The government has also stated that the new driver licenses will be accepted same as proof of the age in some stores and cinemas.

Per media outlets SBS and eDaily the new licenses are more likely to see the reality of day “in early 2021,” and the three carriers grades will collaborate with police on technological solutions.

Last year, the state’s government firm of Australia’s New South-Wales conducted a state-wide pilot who did a similar driver’s license scanning and digitization solution, also who was making use of the blockchain technology.

Also The state is just hoping to digitize many other official documentation and services using blockchain technologya and related technologies, including high school major diplomas, as well as the birth and death certificates.

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