LG CNS, the IT wing of South Korean tech company LG is testing a digital currency system in one of its employee cafeterias, that will allow employees to pay by using facing recognition. LG CNS confirmed the news via a blog post. As per the announcement, the system is based on a number of technologies including artificial intelligence (AI), cloud and blockchain technologies, and face recognition.
LG CNS explained in its blog post, “LG CNS introduced a ‘face recognition community currency’ service that combines three new technologies such as AI, blockchain, and cloud. It is the first time in Korea that a service that combines three new technologies of IT has been released.
After identifying the employee’s identity with AI facial recognition technology, it is automatically paid in pre-registered blockchain-based community currency. All systems operate on the cloud. Employees who have agreed to use face and account information in advance will automatically pay by recognizing only the face on the device installed in the restaurant table.”
LG also stressed on the fact that making payments using facial recognition is an extremely effective and hassle-free technique. Moreover, it is a great way to make payments without making any physical contact.
It seems even more relevant in the current circumstances when people across the world are being advised to maintain social distancing in order to stop spreading of the dreaded COVID-19.
As of now, only one their office is participating n the trial, but LG CNS plans to expand this technology across multiple LG offices. Recently, it also introduced an AI-backed facial recognition access system at its Seoul headquarters’ entrance gate.
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