In South Korea, food supplies for school lunches will be tracked on the blockchain

LG CNS, a subsidiary of Korean technology giant LG, will use the blockchain to make food supplies to school canteens more transparent.

The new system, created in partnership with local IT company SayIT, will be based on the closed blockchain platform LG Monachain, which was launched last spring. Through collaboration with administrations in various regions of South Korea, the system will be used in food supply chains in the cafeteria of national schools. There will also be information on agricultural products used in the preparation of meals.

The blockchain system will contain information on the production, processing, distribution, purchase and consumption of products. In this case, the data will be publicly available, so that parents will be able to more closely monitor what their children eat and influence it.

LG KNS has not forgotten about the possibility of monetizing the system – an advertising platform will appear in it, through which food manufacturers can promote their products.

Note that in parallel, LG KNS is developing a blockchain platform for tracking used batteries from electric vehicles and their recycling. The platform will operate on the island of Jeju.

Monachain blockchain platform was launched in May last year. It is designed for the modernization of the logistics sector in finance, industry and telecommunications. Monachain implements a digital authentication system, uses its own digital currency and tools for managing supply chains.