lg cns groundx
LG Partners With Kakao To Promote Blockchain
November 22, 2019
lg cns groundx
LG Partners With Kakao To Promote Blockchain
November 22, 2019

LG CNS, the IT affiliate of LG and blockchain subsidiary of Kakao, Ground X, are partnering to bridge public and corporate blockchains.

On Nov. 21, The Korea Herald reported that the partnership aims to develop mutually compatible infrastructure.

Ha Tae-Seok, the head of LG CNS’ future strategic business division, and the CEO of Ground X, Han Jae-Seon attended the formal signing ceremony at the LG CNS headquarters in Magok, Seoul. 

The Collaboration Will Help Grow The South Korean Blockchain Ecosystem

A representative of LG explained that there are many inter-chain projects in the blockchain industry that need to be able to work across multiple unique networks in order to be successful, stating:

“We will break down the existing boundaries between private and public blockchains through this partnership and combine our strengths for new business opportunities.”

A Ground X representative further added that the anchoring technology of its Klaytn network will ensure the purity of the data provided by LG CNS’s Monachain blockchain.

ALSO READ :  Korea Internet Security Agency (KISA) to Support Blockchain Startups With $9 Million Funds in 2020

The representative also said that the collaboration will help grow the South Korean blockchain ecosystem. 

During September, LG Corporation said it has been preparing to launch the production of blockchain-oriented smartphones with technology in the near future. LG already conducted a study of the markets of blockchain companies and decentralized applications.


Source: The Korea Herald | Cointelegraph | Shutterstock


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!