Media: Samsung is developing its own cryptocurrency based on Ethereum

The South Korean technology giant Samsung is developing its own blockchain, based on which it wants to issue a cryptocurrency. About this CoinDesk reported sources familiar with the situation.

According to available information, the Ethereum blockchain will be the basis of the Samsung network. The project is still at the testing stage, but in the long term the blockchain may become public, and the Samsung Coin coin may be traded on the stock exchanges.

"We expect that Samsung Coin will enter the market, but the direction of the project has not yet been determined," – said the source.

He also said that the company could introduce the blockchain into its application for making Samsung Pay payments, but this decision has not yet been finalized. Note that in September the service has already launched in Russia a service for cashless transfers of funds using tokenization technology.

Recently, Samsung is increasingly interested in the world of digital currencies. So, earlier the company introduced a new Samsung Galaxy S10 smartphone with support for cryptocurrency, and also invested in a Bitcoin wallet without a secret key.

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