Blockchain Platform ‘Monachain' started by LG Branch

The IT subsidiary of electronics giant LG has run its own blockchain platform that could be used in a number of sectors including manufacturing and finance
14 May 2018   882

Korea Times reported that named ‘Monachain’ by LG CNS, the enterprise blockchain platform will concentrate its usability on cryptocurrency, digital authentication, digital supply chain management. Monachain allows its customers to make their own digital currency wallets, a position that can see local governments issue local currency and welfare payments to end users on a blockchain LG CNS said. Also, the LG group arm displayed it is working relatively a communication of banking infrastructure with commercial banks that let them to run and distribute digital currency via blockchain platform.

Even further, Monachain can help business owners boost productivity as the company provides a digital supply chain management system that enables suppliers to manage the entire production processing efficiently.
LG CNS

A decentralized identifier is used by Monachain in order to let measurable digital identity wherein users in the blockchain will be able to self-verify their identification information with the help of a smartphone before making a payment or remittance.

LG CNS first reported about the details of its first enterprise blockchain in middle of 2017. The platform is established on Corda, a permission distributed ledger software developed by global banking blockchain consortium led by New York-based industry company R3.

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   66

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.