LG Electronics – a prominent tech platform based in South Korea – has formally included Crypto and blockchain to be the exclusive business zones in the corporate charter thereof. As per a native new report from South Korea, the tech giant incorporated a couple of unique crypto-related targets on 24th March, during the yearly general meeting thereof.
The respective targets take account of the selling as well as the development of software related to blockchain along with the brokerage and trade of crypto, which paved way for conjecture if the venue would construct some crypto exchange. On being asked regarding the intention of the firm to initiate a kind of venue or exchange, a spokesperson from LG refuted all the speculation by disclosing that nothing has yet been determined by the company.
He further mentioned that they only decided about the business zones from a broad perspective. Rumors regarding LG’s intention to construct a crypto-based marketplace originated formerly in 2022 when Heo Baek-young – the CEO of Bithumb – established that his exchange was operating with a big firm to construct a marketplace of NFTs. The tech producer has been vigorous regarding the adoption as well as the integration of NFTs, declaring previously this month to be operating with Kakao’s Ground X (a blockchain tech firm) to release a smart TV series having compatibility with NFTs.
LG also declared collaboration with an online auctioneer for art – Seoul Auction Blue – to initiate additional projects dealing with artworks based on NFTs. The declarations of LG were witnessed as the rest of the tech companies as well as South Korea, in a wide scenario, are continuously adopting technology related to crypto and blockchain. Formerly this year, Samsung – a prominent tech firm from South Korea – declared to carry out the launch of a venue for NFTs for the smart TVs thereof.
In addition to this, it asserted to launch an autonomous store within the metaverse of Decentraland. It is quite interesting to note that Yoon Suk-yeol – a crypto proponent president – was elected by the nation previously this month. The election campaign of Yoon was focused on the deregulation of the crypto industry of South Korea. Apart from this, it dedicated its attention towards taking adequate initiatives to pave the way for the country to turn into a blockchain technology hub shortly.