Samsung Electronics plans to expand its blockchain-enabled smart phone product line up. The world’s largest smartphone maker also has a plan to cooperate with mobile service carriers to boost up blockchain applications markets like regional digital currencies and blockchain-based ID certificates.
These ambitious and novel plans were unveiled in a blog post written by Chae Won Chul, executive vice president with Samsung Electronics’ mobile business unit. According to the blog post published in Samsung’s in-house online news site ‘Samsung Electronics Newsroom’, Samsung will keep speeding up its engagement with blockchain technologies to expand its blockchain-capable smart phone product portfolio.
“Samsung aims to lower an experience barrier to blockchain technologies with the growing adoption of blockchain technologies across our smartphone product line-up, following on the heel of the commercial rollout of our first blockchain-enabled Samsung Galaxy S10 smartphone model. We are also planning to expand the availability of the Galaxy S10 smartphones into other countries than the U.S. and Canada,” he was quoted as saying.
The newly-released Galaxy S10 smartphone is Samsung’s first crypto wallet-enabled smart phone that comes built with a blockchain key store, enabling users to securely store their digital private key. As it comes combined with Samsung home-grown Knox security technology, user can safely and securely store their keys in the smart phones to use it as an encrypted key to a variety of blockchain-based applications.
“Accordingly, users can clear their bills and transfer money across a variety of DApp or decentralized apps with no hardware wallet. The blockchain key store function operates on a disparate Secure OS so that users can deactivate it using Samsung Knox technology when their smart phone gets hacked, “ said executive vice president Chae.
Added he, “The Galaxy S10 is the first step in Samsung’s ambitious journey to create its blockchain ecosystem and accelerate the adoption across a multiple of devices. We are not sure how the blockchain technology will affect our daily lives, but one crystal-clear thing is that the blockchain technology will make the Internet more open and more accessible as originally conceived.”