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LG integrates AI facial recognition in blockchain digital currency payments

Friday 24 April 2020 14:02 CET | News

South Korea-based LG’s software subsidiary, LG CNS, has unveiled a facial recognition service that combines AI and blockchain to make payments in digital currencies. 

 

The solution is being trialled at LG headquarters, where the company  has installed facial recognition devices that check the identity of employees and then automatically access the blockchain-based community currency. LG’s ‘face recognition community currency’ is hosted on the cloud, and employees can use the service to make contactless payments at the company’s restaurant. 

This could be beneficial during the current COVID-19 pandemic as users can avoid touching a smart card or downloading a mobile app for scanning QR codes. The goal is to reduce contact with machines at the time of payment. 

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Keywords: LG, LG CNS, South Korea, facial recognition service, AI, blockchain payments, digital currency, facial recognition device, community currency, contactless payments, COVID-19, pandemic, smart card
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: Korea, Republic of
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Securing Transactions






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