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NEW SAMSUNG GALAXY S10 FEATURES CRYPTOCURRENCY KEY STORAGE

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Samsung on 21 February unveiled the new Samsung Galaxy S10 range of devices that will include storage for private cryptocurrency keys.

According to the statement the new devices are the Galaxy S10e, Galaxy S10, and Galaxy S10+ all offer next-generation hardware and features.

Samsung said that the Galaxy S10 is designed for those who want a premium smartphone with powerful performance that “sets the stage for the next generation of mobile experiences”.

“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services,” the press statement mentioned.

However, the giant smartphone maker remains tight lipped on specifics on the configuration and support for cryptocurrency wallets and DApps. Speculations caused by leaks in January reportedly showed photos of an Ethereum wallet option as part of the supported cryptocurrencies. However, the press release makes no mentions of such a wallet.

According to Landon Manning at Bitcoin Magazine, “baked-in support for cryptocurrencies in smartphone platforms is not completely unique to the space, although this initiative by Samsung represents a major step for the technology’s integration into mainstream products. As it stands, there are currently two smartphones that support crypto assets: HTC’s Exodus 1 and Sirin Labs’ Finney.”

The two phones have had limited adoption reasons being the Exodus 1 is only available through crypto transactions. Finney although can bought with fiat, the company does not have a proven track record for creating quality hardware products.

Samsung, on the other hand, is proven maker on premium devices and has the second largest market share. A product made by this company will have lessbarrier to entry for the end user consumers. It could do a great deal toward making crypto technology accessible for the average user.

In May 2018, HTC unveiled “the first native blockchain phone,” HTC Exodus, it features support for multiple blockchains, including Bitcoin (BTC) and Ethereum networks.

In December 2018, Israeli Sirin Labs launched Finney, the ‘world’s first’ blockchain smartphone.

Blockchain payment provider Pundi X is expected to launch a smart phone known as “XPhone,” in Q2 2019. The phone will use a blockchain-based protocol for communicating data, making calls, sending messages and more. That means users communicate with each other securely and independently of a central carrier via nodes,thereby avoiding the need to use centralized mobile networks.

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