The South Korean company LG has applied for a patent for “ThinQ Wallet”, a wallet dedicated to cryptomonas.
According to the documents submitted, the patent refers to transaction services, mobile banking, “cyber money” and “mobile phone software applications”.
LG has previously used the trademark for a smart fridge launched in 2011. Since then, several smartphones have been launched under the ThinQ brand.
LG blockchain for supply chains
The electronics and home appliance manufacturer has a branch dedicated to the development of blockchain solutions, called the LG CNS. Recently, the company announced that it will apply its own blockchain technology to promote the supply chain’s transparency for the school system. More specifically, school administration will be able to track food used in school buffets using blockchain technology.
Buy the car with Bitcoin
LG has successfully tested a number of blockchain applications over the past two years. The company launched a pilot in September for a blockchain-based international mobile payment service through LG Uplus. In June, LG became one of the Klaytn block-chain advisors launched by Kakao giant in South Korea.
Competition for the use of cryptomonas on mobile
The patent demanded by LG shows that in the Asian markets, competition between major manufacturers is growing. In March, Samsung launched the Galaxy S10 smartphone with an integrated crypto wallet. Later, the company announced plans to expand crypto and blockchain services and cheaper phone models.
In May, High Tech Computer (HTC), a high-tech Taiwan giant, introduced a crypto wallet that allows the ERC20 token swap on the Exodus 1 smartphone. It was launched in partnership with the Cyber Network Exchange, based on Ethereum (ETH).