Samsung Electronics denied SamMobile’s report that its next generation of Galaxy S10 smart phone will likely come built with its own home-grown blockchain wallet, saying that it is groundless.
According to the Cointelegraph, it has phoned with Samsung PR staff to make sure whether the report is true or not, but found it groundless, because Samsung derided it as rumors and assumptions, saying that it has no will to make comments on such rumors.
The news report came to surface on Dec. 11 when SamMobile, a user community for Samsung mobile phones, reported that Samsung has been working on development projects for blockchain-based Cold Wallet to incorporate it in the next flagship smart phone Galaxy S10, citing as evidence the world’s largest mobile phone maker’s applications with EU for 3 blockchain-related trademarks.
The Cold Wallet is referred to as a proof of concept product that can store cryptocurrencies without staying connected with the Internet.
Even if the report had never quoted any reliable news sources, however, the news started to flash out across the world, as some foreign news outlets immediately have rehashed it.
Yet, it proves true that Samsung has applied with EU for the registration of three trademarks –Blockchain Keystore, Blockchain Keybox and Blockchain. More importantly, they are categorized into the sections of ‘software applications’, ‘computer software platforms’, and applications for use in smart phones and mobile devices.
According to SamMobile report, Samsung’s Cold Wallet app features 2 functions, which allow users to store cryptocurrencies and private keys and monitor and track transactions. The Samsung Cold Wallet is also architected to enable users not only to store third party crytocurrency services like TrustWallet, but also create its own on the app. The report went on to say that the blockchain-based Cold Wallet will be designed to store such cryptocurrencies as Bitcoin, Ethereum, ERC20, and Bitcoin Cash in the first place.