Electronics giant LG is supporting a new Vietnamese blockchain initiative through its IT and consulting subsidiary.
A subsidiary of global conglomerate LG will participate in the mainnet launch of a Vietnamese hybrid blockchain project, KardiaChain.
LG CNS, an IT and consulting subsidiary of LG Corporation, has partnered with KardiaChain to act as a validator for its upcoming mainnet launching in late December.
According to a Dec. 17 announcement, LG CNS will be validating KardiaChain mainnet alongside major Vietnamese companies like multinational conglomerate Geleximco, global tech business HPT Vietnam and taxi business Mai Linh Group.
As part of the partnership, KardiaChain will also work with LG CNS to combine their blockchain with LG CNS’s own blockchain protocol known as Monachain. Launched in 2018, Monachain is designed to provide blockchain-based digital authentication and supply chain management.
As such, KardiaChain and LG CNS intend to cooperate on various applications on decentralized identity, as well as issuance and smart city technology. LG CNS will also support KardiaChain when it enters the South Korean market, expected in 2021.
The new partnership comes just two weeks before KardiaChain’s mainnet launch, going live on Dec. 29. Tri Pham, CEO and co-founder of KardiaChain, says that the company’s mission is to provide an accessible blockchain for millions of users. According to Pham, KardiaChain is the “first interoperable blockchain to ever launch in Southeast Asia.”
South Korea’s electronics giant LG Corporation has been actively exploring blockchain technology through its subsidiaries in recent years. In May 2020, LG Electronics joined the governing council of Hedera Hashgraph, a major enterprise-grade public distributed ledger platform. Previously, LG CNS partnered with United States-based company Evernym to develop international digital identity standards at the World Wide Web Consortium.