Samsung is developing a blockchain and its own token in Galaxy series smartphones

A local media English language business channel in Korea released a report on 14th May which states that the South Korean electronics giant “Samsung” will soon release a budget phone which will feature cryptocurrency and blockchain.

The report also revealed that the blockchain and crypto related functionality will be included in Samsung S10 for now but will be available in other Galaxy series smartphones as well. The electronics giant also reportedly has plans to work with the telecommunications companies on a blockchain based mobile verification card and local currency.

In an interview, the senior managing director of the product strategy team at Samsung Electronics, Division Wireless Business, Chae Won-Cheol said that: they will start out with less number of Galaxy models that support blockchain function and experience the barrier in the process and they progress in the number of models. He also said that the service is currently available in Korea, but the service will be soon expanded to the US and Canada.

This was hinted before in a report by “Coin Telegraph”, back in February when they reported that the new Galaxy S10 smartphones would apparently support wallet functions and apps for famous cryptocurrency like bitcoin (BTC), ether (ETH), and two more currency.

An anonymous source at the end of April told a crypto industry news outlet that Samsung might be developing a public-private blockchain and it will be completed with Samsung’s own token.

Earlier this week, HTC also announced its own low-cost version of a blockchain smartphone that is sure to make an appearance in Q3 2019 with a full BTC node and an in-wallet ERC-20 token swaps.

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