Blockchain technology is extending beyond finance to support corporate operational efficiency. LG Electronics, a South Korean consumer electronics leader with annual global revenue exceeding $60 billion, is pioneering a blockchain‑based advertising network and has partnered with Arbitrum to facilitate its development.
LG disclosed to Fortune that it has built a proprietary layer‑2 blockchain network in collaboration with Arbitrum, which offers low‑cost, high‑speed transactions on Ethereum.
LG’s initiative reflects a growing corporate trend to harness blockchain’s potential. Walmart employs the technology to enhance food safety, cutting product traceability time from over six days to just 2.2 seconds. IBM has developed blockchain‑based supply‑chain solutions, while Microsoft integrates blockchain into its Azure cloud platform for enterprise applications.
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