LG CNS introduced a new system called “”face recognition community currency” and combines up to three AI + Blockchain + Cloud IT technologies. LG CNS claims to be the first system to combine these three new technologies in South Korea.

The system recognizes the face via AI and Blockchain allows it to complete the transaction and pay immediately. All this is then combined into one system running on Cloud technology.

LG CNS is already testing and using this on its employees, who pay in this way in the restaurant of the company’s headquarters in Magok.

One of the impulses was the current situation regarding COVID-19 and the aim was to reduce the need for physical contact between machines and humans.

“It is expected that blockchain-based community currency will be used by a lot more people as it becomes more convenient when it meets AI,”
“As non-face-to-face technologies are applied recently, blockchain that increases transaction reliability will be used more widely.” said Lee Joon-won, LG CNS Solution Business Development Manager.

Source: KOREA IT TIMES

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