The electronics giant Samsung is in our latest crypto news for filing numerous applications for blockchain-related trademark requests for smartphones. As the descriptions provided by the company noted, the three European trademark requests are based on providing crypto custody services on smartphones.
From this, we can easily conclude that Samsung may be planning to make its entry into the ‘blockchain smartphone’ market and follow HTC with its recent release named the Exodus 1 and Sirin Labs and its FINNEY smartphone, both of which are offering crypto custody.
As the Dutch tech news blog Galaxy Club first reported, the three requested patents that Samsung applied for are named ‘Blockchain KeyStore‘, ‘Blockchain key box‘ and ‘Blockchain Core‘ – all of which hinting at the direction in which the world’s largest smartphone maker is taking.
The timing of this news, on the other hand, underlines the fact that despite the market’s downward trend in 2018, there are still some tech giants like Samsung and HTC entering the space and believing that cryptocurrencies and blockchain will be the key growth drivers going forward – and the investments are in line with this.
Galaxy Club also cited an unnamed source in its report where it claims that Samsung is planning to release more information about its interest in developing a range of smartphones with specialist crypto and blockchain functionalities as part of this new strategy. If this turns out to be true, Samsung may be gambling on the adoption of cryptocurrencies as the next big user revolution that will drive sales of its smartphones.
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“I would say payment and utility tokens are more or less over, sometimes they make sense.”Talking about stablecoins, he explained that their decentralized mechanism is what makes sure that they are legally considered to be payment tokens rather than securities:
“Stablecoins are a precondition to enable average companies to bring their equity onto the blockchain, because if they issue bonds or shares they want to do so against U.S. dollars, euros or Swiss francs, because those are the currencies they calculate in, not Bitcoin (BTC) or Ethereum (ETH).”Meisser also pointed out that the banks in Switzerland still don’t attempt to try crypto but local startups do use them as a way to avoid banking difficulties in the country.
Bitfury Enters Music Industry With Blockchain-Based Open Source Platform Launch
“The Surround platform will enable the entire music entertainment industry to streamline operations through secure transfer of copyright assets, streamlined connectivity as well as better monitoring and management systems."The launch of this new service marks the expansion of Bitfury onto various aspects beyond mining. Within the ecosystem, this week also saw the company bringing off-chain payments through the Lightning Network (LN) to their first exchange environment thanks to a partnership with Poland's BTCBIT. As the CEO of Bitfury commented about the Surround project:
"The music entertainment industry has evolved into a complex, competitive, technology-driven environment that suffers from a severe lack of transparency.We want to champion artists and help incentivize the growth of the entire industry through the creation of this open, blockchain-based ecosystem."There are many blockchain entities which are tackling the music industry transparency for several years, with ideas such as blockchain-based streaming service being revealed in 2018.
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