Last year, It was rumored that LG is working on a crypto-project. At the LG Science Park, employees could make payments of cryptocurrency tokens via a special smartphone app, ETNews reported at the time. A new trademark application supports this rumor. LG seems to want to launch its own digital wallet, under the name ThinQ Wallet.
LG ThinQ Wallet
On July 2, 2019, LG Electronics filed a trademark in America with the USPTO (the United States Patent and Trademark Office) for the name ThinQ Wallet. The application is also included in the European database. The trademark is classified as Class 9/36 with the description; application software for smartphones; payment software for telephones; blockchain software; digital wallet for cryptocurrency '.
The name ThinQ is used by LG for electronic products with artificial intelligence, or Artificial Intelligence (AI). The name Wallet logically refers to a wallet to manage your virtual money. The description with this trademark confirms this suspicion.
More and more technology manufacturers are entering the world of crypto-currency. Last year HTC released the Exodus smartphone, a blockchain smartphone that can only be purchased with cryptocurrency.
The Samsung Galaxy S10, launched earlier this year, also has a built-in cryptocurrency wallet, the so-called Samsung Blockchain Wallet. This allows users to manage Ethereum and other digital coins, the popular Bitcoins are not (yet) supported by the BlockChain Wallet from Samsung.
Last month, the social media platform, Facebook went one step further by introducing its own digital currency. The company has also developed its own Calibra Wallet for the Facebook Libra coin.
Previously, LG released a high-end V-series smartphone for the US market in the second half of the year. However, the LG V50 ThinQ was already released at the beginning of this year, possibly the new Wallet will be integrated into the V60 ThinQ. However, not much is known about LG's upcoming flagship model, so a release could take a while.
View the trademark for LG ThinQ Wallet here .