LG CNS, the global IT service company owned by LG Corporation that enables digital innovation for customers through emerging IT technology, has established a strategic partnership with Ground X, the blockchain subsidiary of Korea’s largest mobile platform Kakao. Within the collaboration, the companies will work on developing various blockchain solutions and finding new ways for using the distributed ledger technology.
The agreement has been signed at LG CNS headquarters located at LG Science Park in Magok, Seoul.
As LG CNS and Ground X have revealed, they will build a mutually compatible framework.
LG CNS spokesperson said:
“Currently, there is an active ‘inter-chain’ projects within the industry to connect unique blockchain ecosystems. We will break down the existing boundaries between private and public blockchains through this partnership and combine our strengths for new business opportunities.”
Ground X representative commented:
“Our Klaytn’s anchoring technology will solidify LG CNS’ Monachain’s data purity and reliability. Collaborating with Korea’s representative IT service company, LG CNS, will lead to a growth of blockchain ecosystem in the country.”
Both LG CNS and Ground X have already won a reputation as trustworthy companies.
Founded in 1987, LG CNS provides information technology services and enables digital innovation for customers.
Back in May, LG CNS announced the launch of Monachain, its own blockchain solution expected to boost businesses’ productivity and aimed at such services as digital authentication, digital supply chain management, and developing digital currency community besides others.
In June, LG CNS announced its plans to build the first blockchain public platform in South Korea. To facilitate this process, LG CNS partnered with Korea Minting, Security Printing & ID Card Operating Corp. (KOMSCO) that specializes in printing government documents.
As for Ground X, this is the blockchain subsidiary of the leading South Korean Internet company, Kakao. Established by Kakao as a way to integrate future blockchain-based services with Kakao’s existing internet offerings, the company aims to achieve mass adoption of blockchain-empowered services and prove the value and utility of the distributed ledger technology. With over 50 million monthly users, Ground X seeks to address issues connected with blockchain and overturn challenges into opportunities through the technology disruption.
In June, Ground X launched Klaytn, a global public blockchain providing user-friendly UX/UI and enterprise-friendly Developer Experience (DX) environment for developers to create blockchain services. Before the development of the platform was completed, 26 companies had partnered with Ground X and agreed to run apps on Klaytn.