Budget smartphones by the South Korean tech giant Samsung will have crypto and blockchain features according to the local media Business Korea reports that reached our coming altcoin news today.
According to the report, the blockchain-related and crypto-based functionality included in the new Samsung S10 will be included in other Galaxy smartphones models as well. The tech giant will also cooperate with telecommunications companies in order to develop blockchain-based mobile identification cards and local currencies. More on the budget smartphones, Chae Won-Cheol who is the managing director of the product strategy team at Samsung Electronics’ Wireless business Division, had something to say:
“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.”
As previously reported in our latest cryptocurrency news, at the end of February, the new Galaxy S10 series budget smartphones which were released by the South Korean titan, will reportedly have wallet functions for Bitcoin (BTC) and Ethereum (ETH) and two other tokens. At the end of April, a source stated that the crypto industry news outlet Samsung might even develop a public-private blockchain with its own token.
Also, during this week, HTC also announced a budget smartphone based on the blockchain which will be released around Q3 in 2019 with a full BTC node. The phone will also have in-wallet ERC-20 token swaps. Samsung Electronics aims to expand the application of cryptocurrencies and blockchain which are engraved in the Galaxy S10 but also to other Galaxy models. The Korean tech giant also plans to cooperate with SK Telecom and KT in order to improve digital identity authentication and local currency sectors.
When Samsung Electronics launched a crypto wallet on their budget smartphones, the goal was to contribute to the expansion of the blockchain marketplace. The company now aims to expand more and to popularize blockchain technology. Previously, Samsung launched the Galaxy S10 with a ‘’Samsung Blockchain Key Store’’ that is capable of storing private keys to blockchain-based services. Also, they launched the ‘’Samsung Blockchain Wallet’’ that supports money transfers and crypto payments.
“We will develop technologies for blockchain-based identification and local currencies by partnering with telecom operators.’’
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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