LG announces the search for specialists to develop business in Web 3.0

The South Korean company will create two departments in order to advance in new areas

07.11.2022 - 15:00

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LG Electronics, one of the largest global manufacturers of electronic appliances, is recruiting engineers for its chief technical officer (CTO) division to lead the company’s growing Web3 business, according to its official website.

Fast facts

The electronics giant is recruiting new employees in the CTO division in two departments: business development and service design.

The former group will develop new businesses in blockchain and Web3, and secure partnerships in the global Web3 sector. The latter is expected to design and develop decentralized applications (dApps) and conduct research on blockchain and Web3 services.

A prerequisite for the positions is an understanding of blockchain technology and non-fungible token (NFT) utility.

In February, LG Electronics announced the development and sale of blockchain-based software, trading and brokerage of crypto assets as its future business goals in an official disclosure.

In September, LG Electronics launched its first decentralized crypto wallet named “Wallypto” which runs on the Hedera Hashgraph blockchain. LG Electronics recorded about 21.18 trillion Korean won in overall sales (about US$15 billion) in Q3 2022, according to its press release.

Web3 refers to the development of a decentralized internet typically built around blockchains, the underlying technology of cryptocurrencies.

This material is taken from the website finance.yahoo.com.

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