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LG’s IT subsidiary uses facial recognition technology for digital currency payments

The IT services subsidiary of LG Corporation is now testing AI-based facial recognition technology that enables users to make payments with a digital currency .

LG CNS used its employees to test the new facial recognition service, the IT Times reported April 23. The platform includes AI, blockchain, and cloud technologies. After identifying an employee, the system allows them to automatically pay for services and products at the corporate restaurant with a pre-registered blockchain-based community currency.

Lee Joon-won, manager of solutions business development at LG CNS, said: “Blockchain-based community currency is expected to be used by many more people, as it becomes more convenient when paired with AI. Technologies a distance are being recently applied, blockchain that increases the reliability of transactions will be used more widely. ”

LG CNS's big plans for blockchain

LG’s IT subsidiary uses facial recognition technology for digital currency payments
LG’s IT subsidiary uses facial recognition technology for digital currency payments

LG CNS has been experimenting with the system since March, but it's not the only blockchain-based solution the company has developed . Last July, the company revealed plans to implement blockchain in an effort to foster supply chain transparency for school cafeteria lunches .

The data on blockchain was configured to include information on the production, processing, distribution, acquisition and consumption of products, all of which are recorded on the blockchain and made available to the public.

In November of last year, LG CNS partnered with the internet provider's blockchain subsidiary, Kakao, to develop a mutually compatible infrastructure. “We will break down the boundaries between private and public blockchains through this partnership and combine our strengths for new business opportunities,” an LG representative, saying this, shared the company's plans at the time.

A dubious approach?

Such an approach may seem convenient, especially since it does not require unnecessary contact between devices and people during the current Coronavirus pandemic. However, it could raise some concerns.

Trent Lapinski, a hacker and technology executive, previously wrote that with a few code tweaks, blockchain can be corrupted by authoritarians to build social credit slavery systems . Combined with 5G, advancements in surveillance technology, autonomous drones, facial recognition systems, and artificial intelligence, blockchain can be used as the underlying infrastructure to permanently destroy privacy and freedom .

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