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Crypto Smartphones

Samsung Blockchain Allegedly in the Works

The problem with coins and tokens is getting more interesting for tech businesses. After Facebook had previously announced at the end of 2018, intentions to publish a stable coin for WhatsApp, Samsung now seem to be heading in the same direction.

As the industry magazine CoinDesk Korea published, a task force is currently working on implementing a blockchain based on Ethereum. In delivering this, the process refers to an unnamed inside source that claims to be acquainted with the internal procedures.

CoinDesk quotes the insider as follows:

Currently we are considering a private blockchain. That is not confirmed yet. It could also be a public block chain in the future, but I think it will be a hybrid – that is, a combination of public and private blockchains.

The concrete layout of the venture is still entirely open.

Samsung Coin as a logical consequence

The creation of a blockchain could be seen as planning for the launch of their own coin or token. If this is in fact Ethereum-based, an ERC20 token needs to be anticipated.

Theis information comes immediately after a series of reviews on the South Korean electronics manufacturer’s entry into the blockchain sector, with the integration of a Blockchain Wallet in the Samsung Galaxy S10 hitting very high notes. After all, Samsung was the 1st smartphone producer to allow consumers to keep tokens on their smartphones.

Unlike initially imagined, so far S10 customers can only keep ethers and ERC20 tokens on the gadget and use distributed apps like Cosmee. Bitcoin does not support Blockchain Wallets yet .

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