South Korean electronics giant Samsung wants to make blockchain popular, and it plans to roll out blockchain features on some Galaxy smartphones to make it happen.
Citing a press release, Business Korea reports that Samsung Electronics will be adding cryptocurrency and blockchain features – currently available only on the flagship Galaxy S10 – to more affordable models. It also plans to expand its crypto services to other countries.
“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions,” Chae Won-cheol, senior managing director of the Product Strategy Team at Samsung Electronics’ Wireless Business Division, said in an article posted on the Samsung Electronics News Room on May 13. “We will also expand our service target countries after Korea, the United States and Canada.”
Samsung’s Galaxy S10 currently features the Samsung Blockchain KeyStore, an app that stores “private keys to blockchain-based services,” and the Samsung Blockchain Wallet, an integrated crypto wallet that supports payment and money transfers.
The company is also looking to collaborate with telecom companies on blockchain-based identity authentication tools and other projects.
“We will develop technologies for blockchain-based identification and local currencies by partnering with telecom operators,” Chae said. SK Telecom and KT are currently creating business opportunities in blockchain-based ID cards and local currencies.
Photo: iStock