South Korean tech giant LG Electronics has added new lines of business to its corporate charter, including blockchain and digital currencies.
At the annual meeting of shareholders of LG Electronics, the majority voted to approve the new version of the charter, reports on Thursday, March 24, the Korea Economic Daily.
According to a company representative, LG Electronics is not considering the possibility of creating its own digital currency, but so far only outlines long-term goals. However, in February, the company showed interest in the NFT industry by partnering with blockchain platform Kakao GroundX to bring browsing and trading non-fungible tokens to some of its smart TV lines.
In addition, the South Korean company has teamed up with the American Everym to develop blockchain identification standards as part of the W3C consortium. The system is designed to significantly improve the security of personal data and, in the future, replace international driver’s licenses and passports.
Recall that a candidate loyal to digital currencies won in the recent elections in South Korea. People Power Party leader Yoon Suk-Yeol promised the nation to raise the threshold for paying capital gains tax on digital currency income from $2,000 to $40,000, as well as revisit the 2017 ban on initial coin offerings (ICOs).
Source: Bits
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