• Thu, 22 Aug 2019, 09:20 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Samsung plans to introduce crypto and blockchain features in budget Galaxy phones

Maurizio Pesce from Milan, Italia [CC BY 2.0 (https://creativecommons.org/licenses/by/2.0)]

Thu, 16 May 2019, 03:23 am UTC

Samsung plans to introduce cryptocurrency and blockchain functions to its budget Galaxy models, Business Korea reported.

In a press release, the South Korean electronics giant said that it will make its digital wallet app available to lower-cost models and develop crypto features. Currently, the Samsung Blockchain Wallet is only integrated into its Galaxy S10, which was released last March.

We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions,” Chae Won-cheol, senior managing director of the Product Strategy Team at Samsung Electronics’ Wireless Business Division, said.

Samsung also revealed plans to team up with telecom companies in the areas of blockchain-based identification and local currency. Business Korea reported that SK Telecom is a leading company in blockchain-based digital identity verification and KT Corporation has taken the lead in local currencies.

We will develop technologies for blockchain-based identification and local currencies by partnering with telecom operators,” Chae said.

Meanwhile, the Samsung Blockchain Wallet integrated into the Galaxy S10 is compatible only with ether (ETH) and ethereum-based ERC20 tokens. It can support four decentralized apps (dapps) including crypto gaming platform Enjin, beauty content sharing daap Cosmee, crypto collectibles platform CryptoKitties, and merchant payments service CoinDuck.

However, only three countries, namely Germany, Korea, and the United States, were able to access the crypto features of the S10. As for the budget Galaxy series, Chae said that “we will also expand our service target countries after Korea, the United States, and Canada.”

Other than its Blockchain Wallet, Samsung is also reportedly working on creating its own blockchain network and could issue its own native token “Samsung Coin,” according to CoinDesk. But the project is still in its “internal experimental” phase. It has also not been confirmed yet if a public, private, or hybrid blockchain will be developed.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,989.47 (-2.13%)
  • Ethereum (ETH) $186.18 (-1.02%)
  • XRP (XRP) $0.264000 (-0.66%)
  • Bitcoin Cash (BCH) $297.32 (-1.07%)
  • Litecoin (LTC) $72.60 (+0.32%)
  • Bitcoin (BTC) $9,989.47 (-2.13%)
Aug 22, 2019 (Thursday)
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
07:24
Travelport, IBM, BCD Travel to develop blockchain solution for hotel commissions
07:19
Trade.io ends relationship with Forbes CryptoMarkets portal
06:25
Winklevoss twins-owned crypto exchange Gemini expands to Australia
06:20
South Korea’s Woori Financial to develop blockchain-based financial services with Ground X
06:17
Crypto Technicals: Bitcoin Gold hits 5-month lows below $13, momentum studies bearish
05:39
Digital securities platform Securitize becomes SEC-registered transfer agent
04:01
Indian Supreme Court grills RBI for cryptocurrency banking ban
03:49
Cryptopia customers did not have individual wallets; liquidator Grant Thornton to manually determine crypto ownership
03:34
Korean crypto exchange Prixbit shuts down over financial crisis
03:31
Crypto Technicals: BTC/USD below $10K, breach of 'Symmetric Triangle' could plummet prices further
Aug 21, 2019 (Wednesday)
12:56
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
12:27
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:25
European Commission looks into “potential anti-competitive behavior” of Facebook's Libra: Report
11:10
Thailand’s Siam Cement Group seeks to expand Corda-based ‘Procure to Pay’ solution to 2,400 suppliers by 2020
10:40
Crypto Technicals: BCH/USD rejected at cloud, violation at 200-DMA to open up downside
10:21
Blockchain settlement startup Fnality adds former UBS and IMF executives to management team
09:17
Austrian telecom giant A1 to offer cryptocurrency payment option
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft