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   745

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.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   67

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.