Applications and Use Cases

LG Electronics Confirms Future in Blockchain and Crypto

April 01, 2022

Cryptocurrency and blockchain are moving more and more into mainstream markets today as a promising source for financial transactions and digital currency. To ensure it’s ready to take off as the movement progresses, LG Electronics has officially added new business goals for the development and sale of block-chain based software and the the sale and brokerage of cryptocurrency to its business line.

This news emerged during the South Korean tech giant’s annual shareholder meeting earlier last week. No further details on what else it will be doing in the space have been confirmed. However, experts are already speculating on recent moves it’s made about what the plans will look like in the near future.

Some of the latest blockchain-related tech innovations being developed for the market include things like NFT-capable smart TVs, home appliances and even medical devices. It makes sense that LG would stake a claim in this space.

With NFT marketplaces on home TVs people can browse, buy, sell and display things like digital artwork. TV shows are even being developed that require NFT tokens to view episodes, there is potential for take off certainly and the time is ripe for the market right now as more people across the globe get on board with digital assets.

Rumors also emerged earlier this year that the tech company could be working on its own crypto marketplace as it announced partnerships with blockchain companies like Kakao’s Ground X and Seoul Auction Blue. This latest announcement would support at least the creation and sale of the devices that are needed to view non-fungible tokens (NFTs).

Want to learn more? Register to The Blockchain Event to hear how this technology is disrupting the fintech market and helping create a new global economy. Happening June 21-24, 2022 in Fort Lauderdale, Fla., this conference will bring together decision-makers, technologists, and developers to understand the value of blockchain to their businesses regardless of industry.

Edited by Maurice Nagle

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