By The South Korean electronics conglomerate Samsung is the latest company to reveal plans for utilizing cryptocurrency. The tech giant recently filed applications for three separate blockchain-related trademark requests for smartphones.
As per the descriptions provided by Samsung, the three European trademark requests submitted all pertain to providing crypto custody services via smartphones, which are a clear indication that the tech company might be making moves to enter the “blockchain smartphone” market. This comes hot on the heels of HTC’s Exodus 1 and Sirin Labs FINNEY release dates, with both devices boasting crypto custody features.
Galaxy Club, a Dutch tech news outlet, reported that the three patent requests names are:
‘Blockchain KeyStore‘, ‘Blockchain key box‘ and ‘Blockchain Core‘, all three are blatantly obvious at the direction that Samsung is going in.
One must also note, that once again, this news comes at a time, where despite the many hurdles the crypto industry has faced this year, many notable names in the business such as Samsung and HTC, still believe that crypto and blockchain will be key to their growth going forward and have begun to invest as a result.
Samsung Going All In With Crypto?
Galaxy Club claims that Samsung is, in fact, planning to make more information public knowledge as to their plans and interest in developing an array of smartphones which sports specialist crypto & blockchain features as a part of the company’s ongoing foray into crypto.
Back in July, it was reported that a senior IT consultant by the name of Joel Snyder, who’s also a contributor to Samsung Insights, had published a paper which reveals that the purpose of crypto storage when smartphones are included, actually offer vast greater security features over that of laptops or other computing devices, due in part to the existence of Trusted Execution Environment (TEE), a protocol which isolates execution from internal memory processes, which in a nutshell, makes it extremely difficult for hackers to steal data such as crypto wallet keys etc.
In lieu of this, Samsung believes that the adoption of cryptocurrencies is the next big user evolution that will ultimately drive sales of their smartphones. We also know just from the descriptions of the trademark requests that their intentions are to create blockchain solutions for mobile devices. Whether Samsung plans on offering these services on any of their upcoming models, for example, the upcoming Galaxy S10, remains to be seen.
Samsung’s trademark applications see the end of a busy year of crypto-related moves for the South Korean tech giant. Back in September, Samsung also partnered up with a Canadian bitcoin mining company called Squire in order to design and manufacture new ASIC chips for their mining operations which would ultimately lead to them becoming the main competitor to Bitmain’s Antminer series.
Would you purchase a Samsung blockchain smartphone? Could this be the next big thing for crypto or another fad? Let us know your thoughts by leaving a comment below.
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