One of South Korea’s largest tech companies, LG, has just applied for a trademark document in the United States Patent and Trademark Office, signalling to the industry that they are committing to introducing the blockchain technology to their products.
As specified by LG in a previous interview, the ThinQ project is designed to integrate smartphones with payment applications as well as a repository for cyber money. Although the term, cryptocurrency wasn’t used, it’s obvious that the company is hinting towards implementing a blockchain platform.
This is due to harsh competition in US and EU markets against Samsung, which has already implemented the technology on its flagship smartphone, the Samsung Galaxy S10 and is planning to integrate blockchain with its budget phones as well.
Although LG Corp itself is still pondering over the implementation of the technology, it’s subsidiary, LG CNS will be using the framework for much better supply chain transparency for cafeterias and food spots.
This major move to trademark the name, which isn’t as cheap as many would think, is definitely another step towards the new framework for yet another tech giant from Asia.