News Samsung Introduces Blockchain-Friendly Phone

Samsung Introduces Blockchain-Friendly Phone


- Advertisment -

Samsung’s latest Galaxy Note 10 aims to boost blockchain adoption by making it more user-friendly, The Wall Street Journal reported Thursday (Sept. 5).

The new product will be marketed as a “KlaytnPhone,” named after a South Korean blockchain platform, sources told the WSJ. Right now, it’s only being sold in South Korea.

The smartphone will have the same hardware and packaging as the recently-released Galaxy Note 10, and prices will start at around $1,000, the sources said.

Buyers will also get some of the new digital currency, called “Klay” coins, and some phones will come installed with blockchain apps and a cryptocurrency wallet.

Samsung is also rolling out the Galaxy Fold in South Korea. The tablet-sized phone folds like a book and will cost about $2,000.

Samsung is partnering with the creator of the Klaytn platform, Ground X Corp.

Blockchain relies on encryption to cloak a range of transaction data, but the technology is largely misunderstood. The technology is considered a potential game-changer during a time of increasing cybersecurity breaches.

In April, Samsung was planning to develop its own proprietary blockchain network, as well as launch its own cryptocurrency token. The South Korean company’s blockchain task force was working on an ethereum-based blockchain network.

“Currently, we are thinking of a private blockchain, though this is not yet confirmed,” a source told CoinDesk Korea. “It could also be a public blockchain in the future, but I think it will be a hybrid — that is, a combination of public and private blockchains.”

Samsung also invested $2.9 million into the French cryptocurrency company Ledger, which is best known for its hardware products. Its most popular product, the Nano S. Ledger, also recently released the Bluetooth-enabled Ledger Nano X, which boasts wireless connectivity, a larger screen, support for more crypto assets and faster speed.

Samsung published a blog post last year stating smartphones had the best security for blockchain and cryptocurrency.



Please enter your comment!
Please enter your name here

Latest news

What is LEO Token and Can It Help Fund a Rehab Journey?

TL;DR: In this article you will learn what is LEO token, how it works and how can...

How To Trade Like A Professional Trader: Tips and Perspectives

In this article we will give valuable tips on how to trade like a professional...

DAOWallet Develops A New-Age and Secure Crypto and Fiat Gateway

It is almost impossible to analyze the factors impeding the mainstream adoption of cryptocurrency without mentioning the...

Snapped Up! WaykiChain ROG Genesis Yield Farming Round 1 Subscription Completed

Round 1 Subscription of WaykiChain’s ROG Genesis Yield Farming scheduled to start at 20:00 HKT on September...
- Advertisement -

KryptoCibule: The Cryptostealing Malware

ESET antivirus researchers have announced the discovery of an unknown trojan malware family that spreads through malicious...

Crypterium Signs New Partnership with Apple Pay, Unveils its Virtual Card

In late 2017 when Bitcoin and other digital assets became quite popular, the consensus amongst enthusiasts was...

Must read

- Advertisement -

Read Next
Recommended to you