LG CNS, an information technology services subsidiary of South Korean electronics giant LG, has been selected by the Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) to establish a blockchain open platform, Business Korea reported.
The project marks the first public blockchain platform in the country. It would be based on LG CNS’ Monachain – a blockchain service aimed at digital authentication, digital currency, and digital supply chain management.
Using the new platform, it aims to offer key services such as community token, digital authentication, and document certification services.
LG CNS intends to roll out the platform as a cloud. The KOMSCO’s blockchain platform will combine the Monachain platform and the cloud, enabling public institutions, local governments and universities to access the platform via LG G-Cloud.
In addition, LG CNS’ anchoring service will allow users to save data from other platforms on the KOMSCO’s blockchain platform. This would enable them to check multiple platforms to confirm the authenticity of documents.
LG CNS will sign a formal contract with the KOMSCO this month and work towards the development of the platform.
