Cryptocurrency and ICO news 13.06.2018

LG, Korea’s minting corp. to launch 1st national public blockchain platform

LG CNS, the IT subsidiary of LG, has been chosen by South Korea’s minting corporation to establish a blockchain platform for the public sector to provide a number of services including issuing a community token to the masses. The blockchain will be built on top of LG’s enterprise blockchain platform ‘Monachain’ that specializes in digital authentication, digital supply chain management and, notably, digital currency.

KOMSCO, the Korean government-owned corporation that prints and mints fiat banknotes, coins, stamps, passports and other government documents, is eyeing a number of key services including the issuance of a community token, digital authentication for the public and document certification over the open blockchain platform that will be established over the cloud.

KOMSCO plans to issue community tokens in a multitude of digital gift certificates that can be distributed in cooperation with local governments and institutions’ directly into users’ digital wallets.