Bitcoin Daily: North Carolina Looks To Blockchain For Economic Boost; S. Korea’s LG To Use Blockchain For School Lunch Supply Chain


North Carolina Lieutenant Governor Dan Forest announced the launch of the North Carolina Blockchain Initiative to study the technology, virtual assets, smart contracts and digital tokens.

The initiative will work on creating recommendations that aim to promote opportunities for economic growth and cost efficiencies, as well as strengthen the state as a leader in technological innovation.

“It is my hope to provide a strategy to share with our General Assembly, Department of Insurance, Department of the State Treasurer, and other state agencies that will increase awareness, streamline regulatory oversight, and modernize state government,” said Forest in a press release.

Members will include a wide array of experience, knowledge, and expertise including technologists, attorneys, bankers, entrepreneurs, government officials, leaders in the blockchain community and policy analysts. The initiative will be co-chaired by Faruk Okcetin of the North Carolina Digital Economy Hub; Daniel Spuller of the Chamber of Digital Commerce; and Eric Porper of the Warp Institute.

And LG CNS, a subsidiary of South Korean conglomerate LG Corp., has revealed that it is utilizing blockchain technology to support supply chain transparency to help parents make good decisions for the child’s school lunches.

The new system, created in partnership with IT service provider SayIT and in cooperation with regional governments, will be based on LG’s proprietary blockchain platform, “Monachain,” and will include information such as product production, processing, distribution, acquisition and consumption.

LG CNS added that the platform will also support an advertising system so that food producers can distribute mobile flyers promoting their goods to consumers, according to Cointelegraph.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.