Multinational conglomerate LG Corp’s South Korean subsidiary, LG CNS, wants to increase transparency when distributing lunches in a school cafeteria through applying blockchain in the supply chain.
According to ZDNet — a business technology site — July 9 reports, “Monachain” — LG’s proprietary blockchain platform which was launched in May 2018 — is expected to support the system. SayIT — a local IT service provider — collaborated with the firm to develop this new system.
Transparent supply chain history and information of the agricultural ingredients used in food preparation will be provided after the system is implemented at national school cafeterias in cooperation with regional governments.
The report noted that blockchain would record and make publicly available information about products’ production, distribution, processing, acquisition, and even consumption.
LG CNS made it clear in an official statement that the initiative will assist parents in making wise choices regarding their children’s health. Also, food producers will promote their goods to consumers through the provided mobile flyers.
Another parallel blockchain platform development that LG CNS is carrying out is South Korea’s Jeju Island-based system for recycling and tracking electric cars batteries.
LG CNS also stated, Last summer, that it had plans to enhance enterprise offerings in seven major areas which include blockchain.
After its launch, the Monachain platform was meant to provide customers with “a new type of identification, a decentralized identifier (DID), which can be used for personal identification and online payments via smart devices.”
Binance’s (the largest crypto exchange in the world) charity arm unveiled in February of this year its own pilot lunch program for African schools that is based on blockchain.