An interesting bit of news indicates that LG CNS, which is a subsidiary of Giant South Korean multinational conglomerate LG Corp., will use Blockchain technology to boost supply chain transparency for school cafeteria lunches.
According to the report, the new system will be built in conjunction with Local IT service provider SayIT, and will be based on LG’s proprietary Blockchain platform “Monachain”, first launched in May 2018. The system will be implemented and made to work with the help of regional governments, and will be used for foods served at national school cafeterias. The system will provide great value by providing transparent information and supply chain history of the agricultural products used.
The data provided by this system includes information on product’s production, processing, distribution, acquisition, and consumption. All this data will be recorded on the Blockchain, and will be made publicly available according to the report.
In an official statement of its own, LG CNS has said that the initiative is aimed at assisting parents to make informed decisions on their children’s nutrition and protect their health. It was also revealed that an advertising system will be supported by the platform, which will enable farmers and food producers as a whole to distribute mobile flyers promoting their produce.
As LG CNS, embarks on this school cafeteria project, it is also worth mentioning that this is not the only Blockchain project the conglomerate is involved in. Another project focuses on tracking, and recycling the batteries used in electric cars on South Korea’s Jeju Island. The conglomerate had also revealed plans to further improve its enterprise offerings in seven key areas including the Blockchain; months ago.
The monachain platform was launched to provide users with a new type of identification which is “a decentralized identifier (DID), that can be used for personal identification and online payments via smart devices.” Another Blockchain based lunch program does exist, which was launched in February by the charity arm of the world’s largest crypto exchange, Binance. This program was launched to help enhance lunch programs in African schools.
This development does indeed highlight that the Blockchain is taking a life of its own with new and important practical uses cases every day. The fact that giant cooperation’s such as LG CNS are experimenting and releasing products backed by this technology, marks another milestone for the space. Couple this with the fact that Blockchain job openings are growing every day, and you have an industry ready to explode. It looks like it’s only a matter of time until the Blockchain becomes part of every one’s daily life.