Using blockchain, Ford Motor Company, Huayou Cobalt, IBM, LG Chem, and RCS Global will ensure the ethical and responsible sourcing of industrially-mined cobalt.
The new blockchain-based overseas payment service will enable customers avoid overseas credit card transactions fees and reduce foreign exchange risks, as payments will go through their mobile account.
This blockchain platform is aimed at providing important services like digital authentication and document certification services and community tokens.
Currently, LG Pay is restricted to the LG G6 and LG G6 Plus in South Korea but hopes to enter the international market soon.
After several delays, LG successfully launches its mobile payment service in South Korea with plans to expand to other countries.
LG must have solved the problems it encounted during testing in 2016 and is preparing to launch LG Pay in June.