LG Electronics expanding into blockchain and crypto opportunities

Seoul, South Korea

LG Electronics, South Korea’s fourth largest company, has added blockchain and crypto as new business areas to its corporate charter as part of its plan to expand beyond home appliances.

According to local news source JoongAng Daily, the two crypto-focused objectives were approved by shareholders during the company’s annual general meeting on March 24.

The objectives were detailed as “the development and selling of blockchain-based software” and “the sale and...

Samsung SDS pilots a blockchain-based medical claims processing system

samsung blockchain insurance medical

Samsung’s IT solution developer Samsung SDS is expected to roll out a blockchain-based medical claims processing system in October.Yoon Shim, a vice president of Samsung SDS, said at the Blockchain Seoul 2019 event that the firm has been piloting the system since August 2019. Samsung SDS is 22.6% owned by Samsung Electronics and 17.1% owned by Samsung C&T.

Yoon added that medical institutions and insurers have participated in the pilot to validate the effectiveness and the...