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After Samsung, LG Files Patent for Blockchain, Crypto Wallet

July 12, 2019 15:49
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The United States Patent and Trademark Office has published an application filed by electronic company, LG.

While LG is not overt about its ambitions, it has filed an application to secure exclusive rights for the term ‘ThinQ Wallet’. Notably, several LG consumer electronics products launched recently have sported the ‘ThinQ’ moniker, including the company’s flagship G8 ThinQ mobile phone, OLED TV lineup, and even a series of washing machines.

A portion of the patent application reads, “Computer software platform for blockchain; Mobile electronic wallet for cryptocurrency; Security terminal for authentication; Secure terminals for electronic transactions; Electronic money cards; Electronic wallets”, apart from LG’s other deliverable products such as pPayment application software for mobile phones; LED displays; Monitors, namely, Television monitors and computer monitors; Apparatus for recording, transmission or reproduction of sound or images; Battery chargers; Smartphones; Computer software; Mobile payment application software for smartphones; among others.

Last December, Samsung had filed a patent for one cryptocurrency wallet. Soon, in February this year, the company announced its new flagship phone, after teasing the cryptocurrency community for months.

At the time, it didn’t reveal much about the wallet, which left people pondering on a lot of questions. For example, would it be a standalone hardware wallet or a smartphone with cryptocurrency wallet? Was it really going to be a product or Samsung filed this patent only to be on the safe side? The difference was that the patent application was filed in UK’s Intellectual Property Office.

After that, Samsung engineered a “leaked photo” shoot in which it showed that the new Galaxy phones were indeed supporting cryptocurrencies. Crypto-News India had reported earlier,  that the wallet supported only Ethereum, but very soon it would add support for Bitcoin, Ethereum-derived token ERC20 and Bitcoin Cash, after the phone is officially launched.

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