TechFlow to a report by The Block on June 12, LG Electronics is developing a new blockchain based on the Ethereum Layer 2 network Arbitrum. The blockchain will primarily be used for the placement, purchase, sale, and management of digital advertisements, and will record user interaction data with advertisements. It will also provide advertisers and publishers with a shared advertising inventory database.
The report states that the project was developed by LG’s dedicated blockchain research lab and has already been piloted with an unnamed Japanese advertising agency.
Following the news, Arbitrum's native token, ARB, rose by more than 5% that day.
