07-10-2019 icon

LG Applies for Crypto Wallet Trademark

By Sagetwriter

South Korean and world technology giant – LG has filed for a cryptocurrency wallet trademark with the United States Patent and Trademark Office (USPTO).

According to data published on the USPTO official website, the trademark is focused on transaction and settlement services, brokerage, internet payment services, electronic wallet for cryptocurrency, issuance of cyber money, blockchain software platform, payment applications for mobile phones and computers; among others.

Details from the filing documents show that LG has adopted the name “ThinQ Wallet” as a trademark name for these services. It will be recalled that the ThinQ brand name was first used in 2011 for the company’s smart refrigerator brand, before subsequent use for smart phones and other products integrated with artificial intelligence (A.I).

This latest filing could be a clear hint that LG is set to join a host of tech companies launching products for the cryptocurrency and blockchain industry.

Notably, Samsung has championed this move of tech companies into the space; with its introduction of a crypto wallet and blockchain features on its flagship Galaxy S10, while also announcing plans to roll out the functionality to its low cost smart phones.

Other tech companies like HTC and Sirin Labs have also set motions in this regard.

Asides this trademark, LG CNS a subsidiary of the LG Corporation, announced this week the introduction of its blockchain platform for food supply chain services. LG CNS aims to track and ensure transparent production, processing, distribution and consumption of food products across Korean school cafeterias; in a bid to improve student’s health and safety.

LG has also tested a host of blockchain applications over the past two years; an indication of the company’s interest in this potential industry.

What are your thoughts on this? Is LG catching the crypto vibe?