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Person unaffiliated to Samsung files trademark application for 'Samsung Coin'

Samsung Galaxy S10.Kārlis Dambrāns/Flickr

Mon, 22 Jul 2019, 11:24 am UTC

In a rather odd turn of events, it was recently reported that someone is trying to trademark “Samsung Coin” in South Korea that is not actually the tech giant. It would appear that this person is trying to leverage Samsung's recent strides in the area of blockchain technology.

In a report dated July 19, CoinDesk stated that someone named Kim Nam-jin, who has declared his his address as Gyeonggi-do province in South Korea, has actually filed documents with the Korean Intellectual Property Office (KIPO) for trademarking “Samsung Coin.”

On July 10, Kim Nam-jin made the filing under computer program-related categories, such as “downloadable electronic money computer program,” “electronic money card,” “electronic encryption device,” and “IC card with electronic money function.”

A Samsung representative, however, confirmed to CoinDesk that it had nothing to do with the trademark application.

"We don’t work this way,” the representative said.

It is important to note here that anyone can submit a filing for a trademark that involved the Samsung brand. That said, it seems like a fair bet that the tech giant will not let this go without a fight.

Earlier in May, reports suggested that the company was working on creating its own blockchain network and could issue its own native token “Samsung Coin.”

Samsung had already revealed that it was investing heavily in blockchain. To that end, it is not unlikely for the company to create its own crypto coin.

Earlier this year, the company integrated Blockchain Wallet into its Galaxy S10 and reportedly has plans to introduce cryptocurrency and blockchain functions to its budget Galaxy models. More recently, it released six new dApps to be integrated into the blockchain wallet of its Galaxy S10. It has also announced the beta launch of its blockchain Software Development Kit (SDK).

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