In December 2018, Samsung had announced that it was all set to introduce a cryptocurrency wallet and had also filed a patent for the same. However, at the time, it was unclear whether it was a standalone hardware wallet or a smartphone with cryptocurrency wallet.
Putting all speculations to rest, the official portal for news related to Samsung said, as per some leaked images show that the Samsung Blockchain Keystore app running on the Galaxy S10. The report added, “this app is a ‘secure and convenient place for your cryptocurrency’” .
A Twitter user Ben Geskin had initially shared the images of the proof, which was later confirmed by Sammobile. The news portal said that, currently the wallet supports only Ethereum, but very soon it will add support for Bitcoin, Ethereum-derived token ERC20 and Bitcoin Cash, after the phone is officially launched.
Geskin had said, “New #GalaxyS10 live images leak with ‘Samsung Blockchain KeyStore’ (images via @GregiPfister89)”.
Earlier, Crypto-News India had reported on the patent and had said finding the next big thing to innovate upon is really difficult in smartphone industry as display, camera, form factor, unlocking mechanisms all have been improved considerably. Therefore, it made sense for smartphone makers to launch a smartphone with a crypto wallet. That would not only add a new feature to their device but also help them tap a new market.
Smartphone-based crypto wallets can also be convenient and secure the users at the same time because they won’t require the users to carry a separate hardware wallet while still keeping the keys securely stored in a separate chip inside the device.
Samsung is not the first smartphone to introduce in-built cryptocurrency wallet. Earlier, phone company HTC had also announced that it was all set to launch HTC Exodus 1 that contains a digital wallet to store your digital currencies and is secured from the Android OS.
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