In February, South Korean giant smartphone manufacturer Samsung unveiled its latest phone, The Samsung S10. The smartphone comes with a host of new and unique features. Most importantly, the phone will have an inbuilt cryptocurrency wallet. The move is expected to boost the adoption of cryptocurrencies around the globe. Based on Samsung’s smartphone market prowess, the S10’s crypto feature will contribute towards the growth of the sector. Prior to the announcement, Samsung had earlier applied for three cryptocurrency patents with the European Union Intellectual Property Office. The patents trademarked are Blockchain Core, Blockchain key box, and, Blockchain KeyStore.
Despite the good news to the crypto lovers, Samsung did not reveal the six digital currencies that will be supported by its wallet. However various reports have hinted at the type of cryptocurrencies to be supported by Samsung’s new wallet. It is alleged that the wallet will support BTC), Ethereum (ETH), Cosmee (COSM), Enjin, ICON, and BAT. Samsung confirmed the integration of Bitcoin, Ethereum, Cosmee, and Enjin during the presentation of S10 in Barcelona However, ICON, and BAT are still speculations.
Samsung might have settled for Bitcoin based on the crypto’s popularity and market strength. By the time of writing, Bitcoin had a market capitalization of $67,823,791,664. Samsung seeks to tap into Bitcoin users as it establishes itself in the cryptocurrency market. Samsung choice for Bitcoin might also be due to the fact that the cryptocurrency is the most used payment method among digital assets.
Cosmo Chain (COSM)
A partnership between Cosmee and Samsung has also come to life. Cosmee is a social media app which rewards users with Cosmo Coins (COSM). It is supposedly the first dApp partner for the S10 series. Basically, Cosmo Chain links clients and companies through a mutual beauty ecosystem. Cosmo Chains dApp Cosmee was present during the recent Samsung presentation in Barcelona. This is an indicator that it will be part of Samsung’s wallet.
Reports indicate that there is an already existing partnership between Samsung and ICON on the CHAIN ID service. The collaboration between the two is propelled by the fact that both companies are based in South Korea. CHAIN ID service is the first blockchain joint authentication platform. CHAIN ID deploys ICON’s Loopchain platform that links an ecosystem of blockchain communities through ICON. Under Samsung, CHAIN ID might be used to unlock the phone and allowing safe transactions. According to ICON, the CHAIN ID keeps hackers at bay while promoting a convenient environment for its users.
Basic Attention Token (BAT)
The Basic Attention Token is part of the Brave browser that has introduced a unique business model for content creators and advertisers. BAT focuses on digital advertising and is part of the Brave web browser. Through this model, users can tip their favorite content creators with BAT. On the other hand, they can then buy ads on the BAT advertising platform. This means that Brave browser might be part of the Samsung 10. The move will mean serious competition for the dominant Google Chrome. The rumor about BAT emerged from a report by Asia Crypto Today.
Reports indicate that the Samsung cryptocurrency wallet supports Ethereum by default. Ethereum is among the leading cryptocurrencies. Just like Bitcoin, Samsung might have settled for Ethereum to facilitate payment methods. It is important to note that the Samsung S10 will have Europay, Mastercard and VISA contactless features. The device will work as a Point-of-sale.
The Enjin logo was visible during the Samsung presentation at the Mobile Business Summit. Reports indicate that Samsung partnered with Enjin to work on its blockchain wallet. Enjin is a blockchain eco-system with a focus on gaming. The platform also provides a secure mobile cryptocurrency wallet. The wallet supports Bitcoin, Ethereum, Litecoin & ERC20 ERC721 ERC1155 Tokens. In adverts for Galaxy S10, the Korean smartphone giant demonstrated the use of the Enjin wallet in various videos. Since its inception, Enjin has been attracting attention from both blockchain enthusiasts and smartphone users.
With Samsung’s S10 crypto capability, it appears the battle for the best blockchain smartphone has started. Before the S10 announcement, HTC’s Exodus 1 was viewed as the Native Web 3.0 Blockchain Phone. The device allegedly contains native features for the Bitcoin (BTC) newcomer. However, many are waiting to see how these developments will shape the cryptocurrency world.
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