LG CNS, a subsidiary of the South Korean multinational conglomerate LG Corp., will use blockchain to increase the transparency of the supply chain for lunch in the school cafeteria. This was reported on July 9 by the business technology website ZDNet.
The new system, created in collaboration with local IT service provider SayIT, will be based on the LG Blockchain Monachain proprietary platform, which was launched in May 2018.
In collaboration with regional authorities, the system will be implemented for food served in national school canteens, and will provide transparent information and a history of the supply chain of agricultural products used.
The data will include information on the production, processing, distribution, purchase and consumption of products – all this will be recorded in the blockchain and will become publicly available, the report says.
The official statement of the LG CNS states that the initiative is aimed at helping parents make an informed choice to protect the health of their children. It also emerged that the platform would support an advertising system that would allow food producers to distribute mobile leaflets advertising their products to consumers.
ZDNet notes the development of a parallel blockchain platform LG CNS, in particular, a system designed to track and process batteries used in electric vehicles on Jeju Island in South Korea.
Last summer, LG CNS announced its plans to further expand corporate offerings in seven key areas, including the blockchain.
The Monachain platform was launched to provide customers with a “new type of identification – a decentralized identifier (DID) that can be used for personal identification and online payments through smart devices”.
In February of this year, the charity organization of the world’s largest crypto-exchange Binance launched its own pilot blockchain-based lunch program for African schools.