Owing to the increasing importance of blockchain technology, Samsung these days is heavily investing in it, and the company is all set to develop its own blockchain on the top of Ethererum. In addition, it is also planning to introduce its own digital currency. The giant South Korean electronics conglomerate, Samsung in one of its latest move has decided to introduce the blockchain and cryptocurrency functions in its budget galaxy smartphone models. As per the reports, the giant South Korean electronics firm is all set to make its digital wallet app available on all the lower costs models of the company and will also further expand its crypto features to even more area of jurisdiction.
In the month of March 2019, the market saw the release of Galaxy S10, which is the flagship smartphone of the company. The galaxy S10 was introduced with a built-in cryptocurrency wallet. The Samsung Galaxy S10 additionally comes with blockchain features such as decentralized apps (dapps) and digital signing, which the reports appear to suggest may also be added across the budget galaxy range of Samsung.
The senior managing director of the product strategy team at Samsung Electronic Wireless Business Division, Chae Won-Cheol, has stated that the giant electronics firm is taking all required steps to expand their service target countries after the United States, Canada, and Korea.
The giant South Korean electronics conglomerate, Samsung is also in talks with telecom firms such as SK Telecom and KT Corporation (formerly Korea Telcom) about the possibility of working together on specific blockchain based digital identity verification tools and local currency.
Following the reveal of blockchain and crypto focus for the Galaxy S10 smartphones, the giant South Korean electronics firm has also stated that it is planning to issue a Samsung coin token in the near future.