Electronic giant LG plans to expand its presence in the blockchain space. The company recently applied to register a new brand name to handle its activities. The new subsidiary will be charged with handling e-wallet for cryptocurrencies. Furthermore, the company’s IT subsidiary recently announced plans for adding food distribution services to its Monachain blockchain.
One of the biggest benefits of cryptocurrencies is that with their military grade encryption and security, it is almost impossible to hack into a user’s account. The only way anybody can access is through possession of a long string of alphanumeric private keys.