LG CNS is experimenting with blockchain technologies among its employees through its mobile phones at its science park near Seoul.
The group has designated the Magok LG Science Park as a model place where its employees are experimenting
It created Magok Pay, a community cyber currency so that its employees receive welfare bonuses in cryptocurrencies and use them at the franchises for payment, settlement and transfer. The cryptocurrency is used inside the LG industrial complex.
Its blockchain platform also enables LG users to vote for restaurants they favor. This service indicates that blockchain could be used for voting.
LG CNS has unveiled its blockchain platform Monachain last May. It also secured an open blockchain platform project from the KOMSCO, Korea’s minting and printing company. The KOMSCO platform is a site for e-gift card services.
Like Samsung and other companies, LG is cautious in installing blockchain apps on its phones as Korea has blacklisted cryptocurrencies.
