10 July 2019 13:03, UTC

Tech giant LG Corporation is supposedly working on a project for the cryptocurrency industry; it seems that the company is at the early stage of developing a cryptographic wallet.

The application filed with the U.S. Patent and Trademark Office is for a product called ThinQ Wallet. A list of uses includes "Transaction authorization and settlement services...Providing information relating to financial and monetary affairs...Financing services...Payment and receipt of money as agents...Issuance of cyber money."

The application also lists a large number of software solutions and various types of hardware, including a “mobile electronic wallet for cryptocurrency”. The ThinQ trademark itself is currently used by LG for products related to artificial intelligence. The South Korean conglomerate could easily expand this range to include the blockchain and cryptographic solutions, and the wallet is probably the most remarkable item.

Remember that the market already has HTC, which released its blockchain phone Exodus 1 at the beginning of the year. Samsung has also taken steps, working with Enjin (ENJ) and investing in a crypto company Ledger.

Image courtesy of Cryptolithy

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