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Photo: Pixabay
Earlier, in 2018, HTC confirmed its smartphone with blockchain technology called Exodus, while in July, Sirin Labs announced its plans for "Finney" – a $ 1,000 blockchain phone now available for pre-order. It is said that Samsung follows the example in the development of blockchain smartphones. The allegations, which Samsung denies, derive from the number of trademark applications filed recently in the European Union. The applied trademarks are for the Blockchain, Blockchain KeyStore and Blockchain Core box.
Samsung has described all these brands in the application document as:
"Software applications for use with mobile devices, computer software platforms, application software."
Sammobile has independently reported that Samsung's encryption services will have two different parts. A cryptographic wallet used to view account information, transfers and transaction history. Their "cold wallet" is designed for saving public and private keys, cryptocurrency and the signature of private keys for cryptographic transactions.
In the same report, Samsung is preparing to market these apps with Galaxy S10. When asked to respond to these allegations, the company declared:
"Unfortunately we are not able to provide any information as the following is rumors and speculation."
It would seem strange for Samsung to register brands for services that are not developing. Although the company is not overly confidential, it could still deny reports during app development.
Blockchain implementation
Cryptos like Bitcoin have become very popular. Blockchain is the underlying technology that supports the alternative digital or virtual currency. Since its inception, new technology is revolutionizing every sector of life in the world. Initially, the first investors believed that the crypt could replace gold as the economy of control over fundamental activities.
Although the crypts peaked in December 2017, they suffered a steady decline throughout 2018. Powerful computers have unmasked encryption through an encryption process. The virtual portfolios available store these digital currencies for trading where they are acceptable. Various countries, like China, have banned most cryptographic activities.
On the other hand, South Korea, which hosts Samsung, is among the few countries that embrace the blockchain. It's no surprise when Samsung wants to capitalize on the blockchain and the cryptic popularity. The mobile device manufacturer will offer electronic portfolio services for cryptocurrency storage by implementing functionality in smartphone blockchain functionality.
It is not yet clear why Samsung has applied for these trademark registrations. However, smartphones can only be used for limited activities within the cryptocurrency ecosystem. These phones can store the codes or cryptographic keys required to access the e-wallets that hold the encrypted funds. Because the phone is a personal device, the chances of hacking or losing information are significantly lower.
Samsung has registered a Keychack Blockchain brand application in the EU. Therefore, strongly suggests that the company can add this feature to their phones in the future. Perhaps, Samsung Galaxy S10 flagship phones may have this function.
