Samsung integrates cryptocurrency wallet and budget models of smartphones

South Korean giant Samsung Electronics intends to add support for cryptocurrency in its low-end smartphone models.

This year, the mobile phone maker first entered the digital assets market, presenting the functionality related to cryptocurrency in the new flagship Galaxy S10.

The smartphone is equipped with a cryptocurrency key store and supports decentralized applications (DApp).

“We will lower the barriers to a new experience, gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service to other countries outside of Korea, the United States and Canada , ”said Chae Won-cheol, Senior Managing Director.

The Korean conglomerate also plans to issue a blockchain- based mobile ID card and local currencies. The company is already negotiating with two telecommunications giants – SK Telecom and Korean Telecom.

Earlier it was reported that Samsung Electronics is developing its own blockchain based on Ethereum and can launch a token. Last month, the company invested $ 2.6 million in the French manufacturer of a crypto wallet Ledger .

Publication date 15/05/2019
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