LG Uplus has unveiled a blockchain-based app, enabling customers to have their damaged smartphones repaired and get insurance coverage for lost smartphones without time-consuming documentation.

When LG Uplus customers lose their insured smartphones, they can report the loss through the LG Uplus app and get insurance money within a single day. They have no reason to submit documents to claim insurance money.

When their insured phones are damaged, they can have their phones repaired within a single day.

LG Uplus said it has developed the blockchain platform to help customers file for insurance coverage without cumbersome documentation requirements. It said the technology derived from the LG Group’s Manachain enterprise blockchain platform.

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