LG could follow Samsung in the phone market with access to blockchains

It is said that the South Korean manufacturer of electronic products LG Corporation could launch its own smartphone with blockchain technology in response to the Klaytn phone recently presented by Samsung, say industry experts in South Korea.

LG is Samsung’s closest internal rival and, according to a Chosun newspaper report, LG is willing to respond to Samsung’s latest development, officially confirmed by Kakao’s Ground X subsidiary last week.

Chosun says industry sources have confirmed that LG is “likely” to reveal its own phone that incorporates blockchain technologies “soon,” following Samsung’s Blockchain Wallet launch earlier this year. Importantly, the company has already completed the market research of blockchain companies and decentralized applications (Dapps), the media reported, citing an industry source.

Last week, Samsung, LG’s rival, launched a blockchains-compatible smartphone, called KlaytnPhone, as a variant of the Galaxy Note 10. The phone, currently available only in South Korea, is named after the blockchain platform Klaytn, a blockchain subsidiary of Kakao, GroundX, and its price is more than USD 1,000.

However, although Chosun says that almost all experts agree that “LG is likely to respond to Samsung’s (Klaytn phone) initiative,” some believe LG might decide to seek another innovation path for its smartphones.

The media cites information from an unidentified source that says Samsung “makes a more attractive proposal for blockchain developers” because the company “already has a cryptocurrency wallet for smartphones and a dapps market.”

LG is a well-known defender of blockchains technologies, and has been exploring a range of commercial routes related to the sector. The company has launched its own Monachain blockchain platform and is working with the main KB bank on a token that somehow, which many consider a cryptocurrency or a stable currency. The company also plans to work with farmers and schools on an ambitious blockchain-driven school lunch project.

In addition, LG filed a patent in the United States for a smartphone cryptocurrency portfolio earlier this year, and is a member of the Klaytn governing council of Ground X.

Source: Criptonoticias

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