After the unveiling of Klaytn Phone by Samsung, industry insiders in South Korea think LG could follow suit to launch its own blockchain-powered Smartphone.

As per industry insiders in South Korea, LG, a South Korean multinational electronics giant, could be set to introduce its own blockchain-powered smartphone.

In the domestic market, LG is the closest rival of Samsung. According to a report on Chosun, a daily newspaper, LG is keen to respond to this latest development by Samsung. The same was confirmed by Ground X, Kakao’s subsidiary last week.

In the wake of Samsung’s Blockchain wallet release, LG is said to have met a number of Dapps (decentralized application) developers to discuss a possible future collaboration. As per Chosun, the industry sources have confirmed that LG is ‘likely’ to unveil its own blockchain-powered smartphone very soon.

However, Chosun also says that almost all experts agree that “LG is likely to respond to Samsung’s Klaytn phone initiative”, some also believe that LG may instead pursue some other avenue of innovation for its Smartphones.

An unnamed insider was quoted as saying to the media outlet that Samsung “makes a more attractive proposition for blockchain developers” as the company “already has a crypto wallet for smartphones and a dapps marketplace.”

LG is a known advocate of blockchain technology and has in the process of exploring a range of avenues for a blockchain-related business.

The company has previously launched its own blockchain platform called Monachain and is currently working with KB, a major bank to develop a token of some sort. The token is thought by many as a Stablecoin or Cryptocurrency. The company also has an ambitious blockchain project that will work with farmers and schools for a school lunches project.

Earlier this year, LG has also filed for a patent in the United States for a smartphone cryptocurrency wallet. It is also a member of Ground X’s Klaytn governance council.