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S. Korean Media: Electronics Giant LG Launches Own Blockchain Service ‘Monachain’

SEOUL, March 13 (Reuters) - LG CNS has announced that it will launch its own blockchain service 'Monachain'.

'Monachain' is an enterprise block-chain platform that can be applied to a variety of industries, including finance, public, communications and manufacturing.

The three main key functions of the blockchain service 'Monachain' are: digital certification, digital community currency and digital supply chain management.

As the local source reports, Monachain enables a new type of identification, a decentralized identifier (DID), that can be used for personal identification and online payments via smart devices.

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