Cryptocurrency News

The Consulting Arm of LG Becomes One of KardiaChain’s Mainnet Validators

No matter how bad the world economy may consider the year 2020, it has proven to best the best in the history of the cryptocurrency industry. The amount of adoption and investments gathered by the crypto-blockchain industry in the previous year (2020), towers over all the progress made by the industry since 2009.

Now that the world has stepped into the year 2021, everyone is hopeful and aiming to see even more progress and improvements in the crypto-sector. Ever since the beginning of the year 2020, the cryptocurrency industry has started growing bigger and stronger with every passing week.

The cryptocurrency industry’s adoption fast-tracked when the pandemic hit the entire world. Due to mass-lockdowns and mass-closures of companies/enterprises, the majority of people started shifting to crypto-platform.

That is when the cryptocurrency industry started booming and more investments kept flowing into the platform. Now the industry has more than 100 million users/investors who are benefitting from the crypto-services.

Towards the end of the year 2020, the cryptocurrency industry started gaining vast adoption on the mainstream platform. Some of the prominent institutions that have invested in cryptocurrencies are MicroStrategy, JPMorgan, MassMutual, and PayPal.

With the beginning of the New Year, more institutions have started shifting towards crypto-blockchain technology. Just recently, it is LG that has found itself attracted towards the crypto-blockchain industry.

As per the recent reports, LG CNS has announced that it will be becoming a part of the crypto-blockchain industry. It has announced that it will be doing it by participating in the mainnet launch of KardiaChain, which is a hybrid blockchain project based in Vietnam.

LG CNS is the subsidiary of LG, which is a global conglomerate and is known worldwide for manufacturing consumer electronics. LG CNS is the consulting and IT subsidiary of LG Corporation. It has confirmed that it will be participating in the KardiaChain mainnet as one of the validators.

As per sources, LG CNS will be helping KardiaChain with the mainnet and will be working alongside some of the prominent Vietnamese companies. The names of some of the notable Vietnamese companies include taxi business Mai Linh Group, multinational conglomerate Geleximco, and global tech business HPT Vietnam.

The partnership between LG CNS and KardiaChain is not just limited to mainnet validation. LGS CNS will also be working with KardiaChain in order to combine its blockchain with KardiaChain’s. It has been revealed that the name of LG CNS’s blockchain is “Monachain”.

The Monachain was developed and launched by LG CNS back in 2018. The blockchain has been designed by LG CNS to provide supply chain management and digital authentication on the blockchain network. Both companies have announced that together, they aim to work on different projects that will be based on the decentralized platform.

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