For some time now rumors were circulating that Samsung is going to launch its latest flagship smartphones with built in features of cryptocurrency wallet and blockchain. According to the sources leaked news remains in gossips that Samsung will introduce its smartphone Galaxy S10 Plus loaded with these features.
Samsung Plans to Bring Crypto Wallets for More Android Samsung Devices
It is considered to be a major victory for the crypto market that world’s largest smartphone brand is investing in cryptocurrency and blockchain technologies.
Samsung Blockchain key Store
The news leaks were turns out to be true when Samsung indeed introduced cryptocurrency wallet named as Samsung block chain key store to the Galaxy S10 lineup. But this is also a reality that the company is not showing enthusiasm with that much aggressiveness and ambitiousness as many have hoped it would. Because it doesn’t have support for any of the major cryptocurrencies. Make sure to check out Best Cryptocurrency Wallet Apps for Android Samsung Galaxy Phones.
As well as Samsung blockchain key store’s availability is also extremely limited. For now app will only work on Galaxy S10 but will be supported by other Galaxy phones in the future. Cryptocurrency storage, digital signature, payment to merchants and transfers are the main features of blockchain key store which are official revealed by company.
Samsung Support for Cryptocurrency
It’s seems like the Korean company have future plans for cryptocurrency and also they does have intentions to make blockchain and its wallet compatible with more Galaxy devices in near future. Senior managing director of product strategy at Samsung wireless business division Mr. Chae-Won-Cheol, stated in a post on Samsung news room Korea.
“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the United States and Canada,”
We can only wait to watch if these statements turns out to be real services and devices or they just remains claims. Samsung didn’t opens up about any specific plans in this regard for their upcoming devises either. This statement is more like they are trying to say that we are kind of interested.
Bitcoin is not supported
Even though in the pre-release presentation pictures Samsung was clearly showing the logo of bitcoin. But ironically it is not yet supported on Samsung devices. Coindesk Korea reported that ETH and Ethereum based ERC20 tokens are the only currencies which are compatible with Samsung wallet currently.
However wallet does support four of the decentralized apps (dapps) which are crypto gaming platform Enjin, beauty community Cosmee, crypto collectibles platform, CryptoKitties and merchant payments service CoinDuck.
Crypto market and Smart phone industry
Samsung the words largest smartphone vendor is not the only brand who is attempting to examine the worth of crypto market. This curiosity is present in the whole smart phone industry. Which is the source of encouragement for different companies to experiment in crypto market and its related technologies to find new ways for their business to grow.
Even the manufacturer like HTC whose smartphone business is currently not going that will, is willing to go with the blockchain phones in future.