• Sat, 25 May 2019, 01:25 PM
  • All times are UTC
  • Edition:
    International
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. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $8,051.01 (+0.66%)
  • Ethereum (ETH) $253.20 (+0.82%)
  • XRP (XRP) $0.388300 (+0.07%)
  • Bitcoin Cash (BCH) $408.80 (-1.23%)
  • Litecoin (LTC) $101.95 (+3.77%)
  • Bitcoin (BTC) $8,051.01 (+0.66%)
May 24, 2019 (Friday)
12:18
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
10:50
German engineering giant Bosch trials Ethereum blockchain
10:39
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
09:33
Bank of Russia to review proposal on gold-backed cryptocurrency
09:17
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
08:45
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
08:45
Robinhood Crypto is now in New York
07:27
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
07:25
California resident sued for alleged $26M crypto Ponzi scheme
06:33
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
06:16
Rep. Swalwell accepting bitcoin donations in bid for US presidency
06:10
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
05:12
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
05:07
Binance CEO CZ seeks compensation for reputational damage from Sequoia
04:06
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
03:57
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
03:14
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
12:15
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
12:11
Coinstar extends bitcoin buying service to 21 US states
11:38
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft