One of South Korea’s largest electronics companies, LG, has finally decided that it’s time to delve into the blockchain technology. This decision was not directly announced by them though, it was leaked by an industry insider to a local news media outlet, Chosun.
According to the insider, LG has already been participating in the development of Klaytn blockchain project (by Kakao) for a while now and was even seen applying for a patent in the past. This entrance in the blockchain market is a direct challenge to Samsung, which has been the biggest competitor LG could ever face in both local and international markets. The inclusion of the blockchain is their attempt to not fall behind the market trends, and maybe bring in something completely new to the table to stand out.
According to the same source, LG has already met and discussed future cooperations with South Korean Dapp developers and will most likely feature a store much like Samsung.
The most likely outcome is something resembling the Klaytn project, but with a unique twist, such as better security or scalability.
However, it remains unknown whether LG will come out with just blockchain integration or a completely separate product in the form of a utility or security token. In the current reality of mass competition in the tech world, they will have to push the boundaries of the industry somehow.