Korean LG Corporation could soon launch blockchain-friendly smartphones.
This has been reported by the local news website it.Chosun, according to which LG is responding to the blockchain smartphones of its rival Samsung.
In fact, Samsung Electronics and Kakao announced last week a blockchain-compatible smartphone called KlaytnPhone, based on the Galaxy Note 10, and currently available only in South Korea. Klaytn is the blockchain platform of a Kakao subsidiary, Ground X.
The KlaytnPhone would be compatible with the Klaytn cryptocurrency (KLAY), featuring a pre-installed native wallet, an exchange and five blockchain-based apps (bApps).
According to some rumours, the rival LG Electronics would be ready to launch on the Korean market smartphones compatible with several blockchain-based features. LG would already have completed market research on companies offering blockchain and dApp services.
In South Korea, the rivalry between LG and Samsung is significant, and Koreans are one of the populations that have been most fascinated by cryptocurrency and blockchain-based technologies.
So for the two competing Korean companies, the domestic market is ready to welcome this kind of new smartphones.
In reality, LG Electronics is a bit behind from this point of view compared to Samsung, which began integrating a cryptocurrency wallet into its smartphones months ago. According to one of the company’s officials, LG struggled with integrating blockchain-based services to its smartphones, as it recently expanded its range with innovative technology.
In addition, the collaboration with Kakao is likely to help Samsung a lot, given that the App has almost 50 million users, many of them Korean.
On the other hand, however, LG has long been engaged in studying the potential of blockchain technology, so much so that it has launched its own platform, Monachain, and is working with some banks on a token that might be a stablecoin.