2 November 2024
Electronic Giants Samsung And LG Participation In Blockchain Increases
From the past few months, two Electronic giants LG and Samsung are paying more attention to participating with blockchain-related businesses.
The whole world is affected by the pandemic but still, there are some countries and companies that are working ahead of time and planning accordingly to get the best out of the results once this pandemic ends.
As of now, the LG and Samsung blockchain participation has been more indirect than direct participation. None of this one firm has yet announced a major blockchain project so far.
Recently, Samsung announced a partnership with the Gemini exchange in order to provide Galaxy smartphone-based virtual asset trading services in the United States and Canada. Last year in March Samsung launched Galaxy S10 and later the phone came up with Samsung Blockchain Wallet, which supports remittance and payment based on virtual assets such as Bitcoin and Ethereum. Samsung partnership with Gemini indicates that the giant has expanded to cover virtual asset trading and custody. This partnership shows that Samsung along with increasing its blockchain circle is also stepping into the trading and custody area.
Compared to Samsung, LG has taken a more direct approach to participate among blockchain businesses. The electronic giant LG has come up in a partnership with the Hedera Hashgraph as a governing council member. The focus of LG is to develop new business opportunities in the blockchain sector through combined research with the global blockchain platform. It has launched a facial recognition system that would be powering up the digital payments system.
Currently, LG is the only consumer electronics company in the governing council of Hedera Hashgraph while others focus on the likes of Boeing, Deutsche Telekom, Google, and IBM.
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