LG CNS announced on July 9 a new initiative to use their blockchain based platform so they can track food distribution. The platform, dubbed Monachain, will have a multitude of uses but will be focused primarily on school cafeteria lunch programs.
LG CNS is a subsidiary of South Korean conglomerate LG Corporation. Their new system, created in conjunction with IT service provider SayIT, will be based on LG’s proprietary blockchain platform.
This platform entered the market in September 2018 as a program designed to track payments for international travelers. Designed in partnership with companies in the U.S., Japan, and Taiwan, this project gave customers a faster and cheaper payment system to use with three separate mobile carriers while they were traveling.
The Monachain platform allowed customers to be able to make purchases using their mobile phones. This was a much more secure means than using a standard credit card and greatly reduced international fees associated with credit card use.
Now the South Korean based company looks to take that same technology and work with regional governments to improve the efficiency of the supply chain associated with school lunch programs. Information will be tracked related to production, processing, distribution, acquisition, and consumption. This will not only create a more efficient system but will also give schools accurate information related to how successful programs are and how much food is being consumed by the student population.
In a statement, LG CNS explained that they hope that this platform will create a more transparent system that will help parents to protect the health of their children.
This system has had great success in tracking similar types of programs. Currently, the blockchain platform traces car batteries. This enables officials to be able to ensure that specifications are met. Other information tracked includes such things as production dates, the inspection history, and distribution. This has helped to create a much more efficient recycling program related to batteries.
LG CNS recently revealed plans to bolster enterprises in seven key areas using blockchain technology. At the time that Monachain entered the market, the company described it as a combination of “science, philosophy, and arts, Leonardo Da Vinci’s monumental work, such as the Mona Lisa.” Now they are looking to showcase how diverse and efficient platform can be in a diverse area of needs.
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