LG Electronics Planning Blockchain Phone

LG Electronics is planning to launch a blockchain-friendly smartphone. As per the South Korean news outlet Chosun, the company has already completed the market research of blockchain companies and Dapps and is attempting to install the blockchain function on smartphones.

Recently Samsung launched a blockchain-friendly smartphone ‘KlaytnPhone‘ named after Kakao’s blockchain subsidiary GroundX’s blockchain platform ‘Klaytn’. LG Electronics is one step slower than Samsung.

To drive-up smartphone sales of LG Electronics and compete with its rival – Samsung, the company is expanding its smartphone lineup. The company is said to focus on innovative technology and blockchain is on their agenda.

• After Samsung release of cryptocurrency wallet ‘Keystore’ in February 2019, LG Electronics applied for a trademark application in Korea and the US Patent and Trademark Office for the cryptocurrency wallet called ‘Thinkyu Wallet’.

• LG Electronics has also joined as the governing council in charge of the node operation of the Klaytn Blockchain Platform.

Blockchain has made its way to the smartphone industry.

The involvement of Samsung, HTC and now LG Electronics may hopefully enable widespread adoption of cryptocurrencies and blockchain-based applications.