Home » LG’s IT Subsidiary Uses Facial Recognition Tech for Payments With Digital Currency
Blockchain News

LG’s IT Subsidiary Uses Facial Recognition Tech for Payments With Digital Currency

LG Company’s IT providers subsidiary is now testing synthetic intelligence-based facial recognition expertise which permits customers to conduct funds utilizing digital forex.

LG CNS used its workers to check the brand new facial recognition service, IT Occasions reported on April 23. The platform consists of AI, blockchain, and cloud applied sciences. After figuring out an worker, the system permits them to robotically pay for providers and merchandise on the company restaurant with a pre-registered blockchain-based group forex.

Lee Joon-won, resolution enterprise growth supervisor at LG CNS, stated: “It’s anticipated that blockchain-based group forex might be utilized by much more folks because it turns into extra handy when it meets AI. As non-face-to-face applied sciences are utilized lately, blockchain that will increase transaction reliability might be used extra extensively.”

LG CNS’s large plans for blockchain

LG CNS has been experimenting with the system since March, however it’s not the one blockchain-based resolution the corporate has developed. Final July, the corporate revealed plans to deploy blockchain to foster provide chain transparency for college cafeteria lunches.

The information on blockchain was set to incorporate info on merchandise’ manufacturing, processing, distribution, acquisition, and consumption — all of that are recorded on the blockchain and made publicly obtainable.

In November of final 12 months, LG CNS partnered with the blockchain subsidiary of web supplier, Kakao, to develop mutually appropriate infrastructure. “We are going to break down the prevailing boundaries between non-public and public blockchains via this partnership and mix our strengths for brand new enterprise alternatives,” an LG consultant shared the corporate’s plans, on the time.

A doubtful method?

Such an method could appear handy, particularly because it doesn’t require pointless contact between gadgets and other people in the course of the ongoing Coronavirus pandemic. Nevertheless, it may increase some considerations.

Trent Lapinski, a hacker and expertise government, beforehand wrote that with just a few tweaks of code, blockchain might be corrupted by authoritarians to construct social credit score enslavement programs. Matched with 5G, advances in surveillance expertise, autonomous drones, facial recognition programs, and synthetic intelligence, blockchain can be utilized because the underlying infrastructure to crush privateness and freedom as soon as and for all.

Credit score: Source link

Spread the love

Related posts

COVID-19 Takes an Enormous Toll on Swiss ‘Crypto Valley’


Challenging Ethereum 2.0? Competing blockchains are seizing the moment


Authorities Take Down Biggest Criminal Chat Network Yet


Leave a Comment