Last year, several rumors were doing the rounds that LG, the globally renowned electronics company based in South Korea, is about to set foot in the crypto space. The latest reports seem to confirm the company’s crypto interests strongly. As per the reports, a trademark application has been filed by the tech giant LG for the trademark named ‘ThinQ Wallet’ with the USPTO on 2nd July 2019. USPTO stands for the United States Patent and Trademark Office. The official website of the office has published the data, confirming the update.
The application for the trademark is categorized as Class 9/36. Apart from the US, the application has also found inclusion in the European database.
As per the documents posted on the website of USPTO, the crypto wallet by LG will be offering a number of services which include mobile e-wallet for digital currency, transaction authorization, transaction settlement, mobile payment, financing, internet payment, cyber money issuance, and blockchain computer software platform, among others.
For those who came in late, LG first used the brand ThinQ when it launched its smart refrigerator at one of the consumer electronics shows back in 2011. Other than that, the company utilizes the trademark ThinQ for its smartphone series.
We must note that LG is not the only technology biggie venturing into the crypto space. Samsung, yet another globally well-known tech firm based in South Korea, has disclosed its intention of expanding its blockchain operations further into its popular Galaxy smartphone series. In fact, Samsung has recently added 6 dApps to its Galaxy S10’s blockchain wallet.
HTC (High Tech Computer), the notable consumer electronics firm based in Taiwan, added the option of in-wallet swapping between ERC-20 digital currencies in May to its smartphone titled Exodus 1 thanks to its collaboration with Kyber Network, a decentralized exchange based on Ethereum.
In the meanwhile, LG Corp’s subsidiary LG CNS will be applying blockchain in order to encourage transparency in the supply chain for cafeteria lunches in school. This new system, according to reports, will be based on the firm’s proprietary blockchain platform called Monachain that was introduced in last year’s May.