Samsung to Integrate Crypto Wallet to Older Galaxy Phones
By Tyler Smith – Cryptocurrency Expert
The renowned multinational conglomerate, Samsung, is said to be adding support for its cryptocurrency wallet to older Galaxy smartphones and collaborate with local telecom firms on initiatives based around blockchain, as detailed on CryptoGlobe. Once released, those with older Galaxies will be able to buy and sell Bitcoin and store on their phone.
The multinational brand’s flagship model, Galaxy S10, featured an in-built cryptocurrency wallet and ‘blockchain tutorials’ for private key storage. The company recently revealed that they’re planning to include these features in their Galaxy smartphone range and ensure they’re available to other geographic locations where users may not be able to afford the latest technology to buy crypto.
Chae Won-Cheol, Samsung’s Wireless division’s senior managing director of Product Strategy said:
“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions.” This suggests Samsung’s endorsement for the technology and could lead to more options to buy and sell cryptocurrency on their phones.
Business Korea reports that Samsung is planning to work alongside telecom firms like KT and SK Telecom on mobile identification cards that run on blockchain technology and more. Many exchanges for buying Bitcoin require the identification of the user. These are digital identity authentication cards which could be used to validate the user’s identification.
Samsung Moving into Crypto
When the brand finally incorporated the Galaxy S10 with the cryptocurrency wallet, a number of analysts assumed it would be a bold move for the crypto space, until it was discovered that their wallet was not available in many locations, restricting the amount of adoption and crypto buying that could be generated.
This move is supposed to be a boost of confident for the crypto market and aims to bolster blockchain technology usage. For a couple of months now, Samsung has been really focused on this budding technology and is also said to be making its own patented Ethereum-based blockchain, which would include a “Samsung Coin” token.
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