Should blockchain-based phones be important to startup founders in Asia Pacific?


The ecosystem that will emerge from the rise of such phones in Asia Pacific will give the founders a new way to reach customers

19, 2018

4 minutes of reading

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Regardless of the smartphone brand you own, it is likely to report its ancestry to Asia-Pacific. It was created by an Asian company or assembled in one of the production hubs in the region, such as China or Taiwan. Although the handheld device industry evolves from smartphones to what are known as blockchain-based phones, Asia Pacific will likely continue to maintain leadership in this area.

Entrepreneurs need to be aware of the new category of blockchain-based phones, if only because it will present a huge opportunity for digitally inclined founders just as the launch of the App Store and Play Store has given hundreds of thousands of opportunities to publish their products directly to consumers. The ecosystem that will emerge from the rise of blockchain-based phones in Pacific Asia will provide the founders with a new way to reach customers.

What entrepreneurs need to know

Most founders associate the term "blockchain" with cryptocurrency and the two approaches to the new category of blockchain-based phones approach this functional lineage or try to expand. The first type of blockchain-based phones, in short, is intended to help those in the cryptocurrency community.

The two best examples are the Finnish of the Swiss company Sirin Labs, which will be produced by the Foxconn of Taiwan and the Exodus of the Taiwanese company HTC. The characteristics of each of these seek to serve consumers who already identify as cryptocurrency traders with specific characteristics of the domain.

The Finney, for example, has a cold storage portfolio for storing Bitcoin, Ethereum and other digital currencies, and a second touch screen that flows from the body to indicate that it is safe to carry out transactions with other crypto-enthusiasts. Exodus, for its part, will offer the restoration of native cryptography, in the event that a consumer loses his cryptographic keys for his digital wallet and the ability to extract cryptography, although the power of data mining can not be compared to an independent commercial platform.

Both Finney and Exodus target encrypted users, who before the advent of these devices did not have the hardware to call them. Now encrypted users who have tried to get benefits through software such as exchanges and widgets can turn to a phone that does the same. The other approach to blockchain-based phones is aimed at a more general public, as best exemplified by Singapore's Pundi X, which recently announced the XPhone.

Because XPhone is built on its new Function X blockchain, owners will be able to send messages, make calls and transfer data without the need for a telephone operator. This capability makes the XPhone appealing to the growing number of consumers who are more alert to security in the wake of high-profile hacks and privacy violations such as the Facebook-Cambridge Analytica scandal. Users can mutually communicate well with peer-to-peers for a digital future that becomes safer even when it evolves.

Opportunity in decentralized apps

Why should entrepreneurs worry about these blockchain-based phones? Everyone will have the ability to run decentralized apps, which is exactly what they look like: apps that run from a variety of nodes (that is, blockchain) to a single device.

Every company has its own approach to decentralized apps. Exodus will allow you to play decentralized apps like CryptoKitties, XPhone will allow developers to publish their decentralized apps via the new FXTP transmission protocol, and Finney will also allow consumers to purchase their decentralized apps with their own SRN of cryptocurrency of the company.

Entrepreneurs should be enthusiastic about decentralized apps because they can all have the same functionality as the apps they are used to. They can have decentralized apps that focus on content, commerce, hitchhiking, messaging, technology, social media and everything else. I work on the road, a sector not typically associated with blockchain and cryptography, and I am also eager to produce a decentralized version of my platform.

The founders should be enthusiastic about the next generation of decentralized app platforms as they represent a blue ocean, in stark contrast to the App Store or the Play Store, both of which are over-saturated. You might think you have an original idea for an app, just to find similar products already available with thousands, if not millions of downloads.

Blockchain-based phones, on the contrary, offer entrepreneurs the opportunity to enter the ground floor. If they have an idea for a decentralized app, they can enjoy a first mover advantage by publishing it on these blockchain-based phones as they go live. With most of these phones still months away from a commercial version, entrepreneurs have more than enough time to build not only their decentralized app, but a ditch to defend it from competitors.

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