LG Corporation, the South Korean electronics manufacturer, has been preparing to launch the production of blockchain-oriented smartphones with technology in the near future.
Chosun, a Korean Media Outlet said :
“LG is likely to respond to Samsung’s innovation initiative,” a major brand competitor.
The Media Outlet further stated that LG is having difficulty separating a potential blockchain phone from Samsung’s previous releases.
It has been reported that the company has already conducted a study of the markets of blockchain companies and decentralized applications.
Another interlocutor familiar with LG’s plans said that the company “struggling to apply blockchain to smartphones without any dissimilarity.”
Earlier, this year, Samsung released its Galaxy S10 in multiple models complete with its Blockchain Keystore focused on working with the Klaytn, the blockchain of the developer of the South Korean Messenger, Kakao. The S10 is fully compatible with ERC-20 tokens, dapps, and recently, bitcoin.
Chosun announced :
“LG has been struggling to apply blockchain to smartphones without any dissimilarity.”
A Chosun source continued :
“I think Samsung is trying to prepare differently in the blockchain field, just as LG responded with a dual-screen when Samsung Galaxy came out with a foldable phone.”
LG completes its market research
It has been reported that the company has completed market research on dapp and blockchain providers. Also, information about LG’s interest in the cryptocurrency space appeared back in the month of July. Then, the company’s application for the registration of the ThinQ Wallet trademark was published for several application scenarios, including a “software computing platform for the blockchain”, “a mobile electronic wallet for cryptocurrencies” and a “payment application for mobile phones”. Currently, LG already uses the “ThinQ” trademark in its G7 + smartphone.
LG and Samsung may be the major name brands in the field but they aren’t alone.