Category Archives: ‘Samsung Crypto Wallet’

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Samsung Developing Blockchain Network, Probable Token Issuance

Samsung is developing its own blockchain

The South Korean international conglomerate, Samsung, is developing its own Ethereum-based Blockchain network with the probable issuance of its own token, “Samsung coin”.

According to a source by CoinDesk, an internal associate said that the company’s blockchain task force is developing an Ethereum-based blockchain mainnet. He further stated, “This block chain TF [Task force] is under review with some models”, which hints that the project is still at an internal experimental stage.

The source said, “Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.” The development of the Blockchain network will be preceded by the possible launch of Samsung’s own token, Samsung coin.

If the blockchain developed is public to the users, then the Samsung coin will be listed on Codex Exchange allowing it to be traded freely by the people just like Bitcoin (BTC) and Ether (ETH). There is also a possibility of incorporating the blockchain technology to its payment app, namely, Samsung pay.

Previously, some projects taken up by Samsung have kept the crypto enthusiasts on their toes. In October 2018, Samsung collaborated with Europe’s largest port for establishing a blockchain-based shipping network. Samsung also claimed that its smartphones could provide the best security to cryptocurrency holdings with the help of the efficient apps and the trusted execution environment [TEE].

Recently, the Electronics giant revealed the latest Galaxy S10 which includes a crypto wallet which is compatible with ether and Ethereum-based ERC-20 tokens. It also supports a number of Dapps such as merchant payments services, crypto gaming platforms and crypto collectible platforms. The S10 can store crypto private keys and supports many digital features including digital signatures.

Samsung’s approach towards the Blockchain-sphere is very evident and has bagged a positive outlook from the crypto community. This could be a bold step to compete with Samsung’s biggest rival, Apple with its ever-increasing experimentation.


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Samsung Unveils Crypto Wallet, Dapps for Galaxy S10 Phone

Samsung Unveils Crypto Wallet, Dapps for Galaxy S10 Phone

Samsung Electronics has just revealed its Galaxy S10, and the latest flagship phone includes a cryptocurrency wallet compatible with Ether (ETH) and Ethereum-based ERC20 tokens. It was somewhat of a let down that Bitcoin is not yet supported, as the logo was apparent on the earlier pre-release presentation images.

The wallet also supports four decentralized apps (Dapps) including merchant payments service CoinDuck, crypto gaming platform Enjin, beauty community Cosmee, and crypto collectibles platform CryptoKitties.

The wallet app can be easily downloaded from the Samsung Galaxy Store, with Samsung stating that they plan to expand the app’s availability to more devices and cryptocurrencies very soon.

This development comes after it first confirmed a private cryptocurrency key storage on the S10 range only a few weeks ago. And soon after, the firm revealed the Blockchain Keystore entailing three broad features: cryptocurrency storage and transfers, payments to merchants, and digital signatures.

The Blockchain Keystore will accompany the Blockchain Wallet in a bid to simplify the transactions process for the new users. And via the CoinDuck dapp, users can also perform payments to merchants.

The payment process through the Samsung wallet is incredibly simple, with users using the dapp to enter the payable amount, scanning a QR code for the online or offline merchant’s wallet address, and pressing the “accept” button to complete the transaction.

Chain Partners, CoinDuck’s parent company, said:

“It was inconvenient to copy the address of the merchant’s wallet and paste it into the personal wallet. We have dramatically improved the usability of CoinDuck and Samsung Blockchain Wallet.”


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Samsung Files for UK Crypto Trading Wallet Patent

samsung, blockchain

Electronics giant Samsung appears to be turning its direction towards cryptocurrencies as it continues to develop the next generation of phones.

This time it is targeting the UK market, with an application already filed with the U.K. Intellectual Property Office for its ‘Samsung Crypto Wallet’. The suggestion is that Samsung is planning to begin building cryptocurrency facilities into its popular range of phones which retail at around $750 in the US.

The trademark application states that Samsung is to develop: “Computer software for use as a cryptocurrency wallet; Computer software for cryptocurrency transfer and payment using blockchain technology; Computer application software for smartphones, namely, software to allow users to transfer cryptocurrency based on blockchain technology and pay via 3rd party’s application software.”

Speculations have been circulating for some time about whether the South Korean giant plans to take the cryptocurrency route, particularly since its filing of three EU trademark applications for blockchain- and cryptocurrency related software in December of this year.

The area of blockchain is one as yet which has been little explored by major phone developers and manufacturers. The first move into the sector was made by Taiwanese smartphone manufacturer HTC recently when the company developed a decentralized bowser called Brave on its HTC Exodus phone calling it the “the first native blockchain phone.” The Exodus provides support for Bitcoin (BTC) and Ethereum (ETH) networks.

Also in November of this year, Sirin Labs’ developed its new smartphone, Finney. The smartphone will compete with the likes of HTC’s Exodus DLT phone and other non-blockchain phones for a market share of the trillion-dollar-plus smartphone industry.

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