LG CNS has announced plans to develop a blockchain-based food distribution platform that would open up value chain information to consumers.
The company will collaborate with SayIT, a local IT service provider, to develop the platform. It will be based on LG's blockchain platform, dubbed Monachain, which launched last year in May.
The new platform will be applied to foods being served at South Korean school cafeterias in collaboration with regional governments, which will provide information on agricultural products.
Information on these products' production, processing, distribution, acquisition, and consumption will all be saved and made public.
The increased transparency would be aimed at helping parents protect the health of their children, LG CNS said.
Food producers would also be able to use the platform to send "mobile flyers" to promote their goods to customers, it added.
The company has also been building a similar platform since April that is focused on recycling batteries used in electric cars at Jeju Island.
The blockchain platform traces car batteries' specifications, production dates, inspection history, and distribution so that customers can measure how much battery life is left for effective recycling.
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