LG CNS launches face recognition currency
27 April 2020 17:03 GMT

LG CNS, a subsidiary of LG Electronics, has launched a "face recognition community currency" system, reports Korean media.

The 'face recognition community currency' system is significant in that it has increased the number of areas where new innovative services can be applied by merging AI and blockchain technologies that were used in each digital innovation area, reports the Korea IT Times.

The system combines AI, blockchain and cloud technologies. This enables users to make cryptocurrency transactions upon facial recognition, so as to avoid unnecessary contact. Lee Joon-won, LG CNS Solution Business Development Manager, said:

"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."



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