LG CNS, a subsidiary of South Korean tech giant LG, has announced the development of a blockchain platform that will offer transparency for school lunch programs. The platform was developed in partnership with local IT service provider SayIT.
According to a report by business technology site ZDNet, the system is based on LG’s Monachain blockchain platform and will store information on the food’s production, processing, distribution, acquisition, and consumption. This allows parents and carers to verify the quality and nutrition of the food being served to their children at school.
A SayIT official said the move aims to improve student health, and it will collaborate with local governments to make the data publicly available.
“In the process of buying and selling materials, it is difficult to accurately check the date of origin and processing,” said the official. “These kinds of issues will be dramatically improved on a blockchain-based platform as all information is efficiently shared.”
LG CNS also plans to monetize the blockchain platform by allowing food manufacturers to advertise their products. These firms will be able to send ‘mobile flyers’ to users of the platform.
The LG subsidiary has also been creating a similar platform focused on recycling batteries used in electric cars on Jeju Island, South Korea. The platform provides traceability for car battery specifications, production date, inspection history, and distribution. This provides accurate information to customers on their battery life, thus enabling more efficient recycling.
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