South Korean international conglomerate corporation LG Electronics made it clear on September 15, 2019, that it is planning to release its own blockchain-based smartphone. This has therefore confirmed the rumors that has been circulating the market. The electronics giant will become one of the few mobile phone manufacturers to join the cryptocurrency industry.
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.
LG Uplus Corp, a South Korean cellular carrier owned by LG Corporation, Korea's fourth-biggest conglomerate and parent firm of LG Electronics, is trying to launch a cross-carrier Blockchain-based payments service for all overseas travellers.
Ubank (https://www.ubank.ru/), the leading mobile payment app in Eastern Europe, introduced the first version of Ubcoin Market (https://ubcoin.io/en/product#universe) - a global peer-to-peer platform that is designed to bring 200 mln new investors to crypto. Ubcoin is an eBay-like Ethereum-powered marketplace that allows people to exchange real goods for cryptocurrency and vice versa. Ubcoin will be part of the Ubank mobile app that is pre-installed by Samsung in 10 countries and has over 16 mln installations worldwide. In July 2018 Ubank announced that it started partnership with LG Electronics about having Ubank available for LG users.
The mobile payments app Ubank will be pre-installed by the South Korean company LG Electronics on its smartphones, which will become gradually available in various world markets. The Ubank app is already pre-installed by Samsung in 10 countries.
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The IT Electronics giant, a South Korean multinational electronics company, LG has launched its enterprise blockchain platform that according to developers can be put into various numbers of practical use in different sectors like manufacturing and finance.