LG CNS, a subsidiary of electronics giant LG Corporation, announced that it will strengthen digital finance businesses with a focus on interactive systems and blockchain services, Business Korea reported.
The announcement was made in a press conference at FKI Tower in Yeouido, Seoul on June 27, where the company said that it will began strengthening its digital financial business beginning in the second half of the year.
“The financial sector is at the center of the fourth industrial revolution. We mapped out plans to lead financial companies’ digital transition based on our accumulated capabilities in the field of financial information technology,” Kim Yong-seop, president of LG CNS, stated.
LG CNS introduced a blockchain platform specialized in finance that is based on ‘corda’ distributed technology of the world's largest blockchain Consortium R3. LG CNS’s blockchain platform only shares information with trading partners, which is highly secure thus saving a lot of time for trading partners for striking a deal.
The company also said that it is planning to establish a digital financial center on July 1 by expanding existing digital finance business. It also seeks to increase number of experts to 100 from current 30 by the end of this year.
