Samsung, the biggest phone maker in the world, thrilled cryptocurrency fans yesterday by announcing that their new flagship series, the Galaxy S10, will feature a secure cryptocurrency wallet. The company, who boast around four billion active smartphone users, launched their new model in Seoul, San Francisco and London and stated that it would feature “defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.” The news marks a major step for crypto adoption, and will help bolster the image of cryptocurrency among the company’s target market.
This is HUGE Folks!!!
BREAKING! Samsung Adds Crypto Wallet to Its New Flagship Galaxy S10 https://t.co/F26i4TXrVk
— “RB3” – The Blockchain Bull! (@RobertBagley) February 20, 2019
Wallet Rumors Prove to be True
Rumors of a crypto wallet within the Samsung Galaxy S10 had been going around through much of late 2018 and intensified in December when it was discovered that the company had filed three EU trademarks for blockchain and cryptocurrency-related software. This caused many to speculate that a crypto wallet was imminent, something Samsung denied days later, dismissing the suggestions as “rumor and speculation” which have now proved to be true. Further details on the Samsung Knox feature were not forthcoming at the launch, but we know for sure that users will be able to store a select group of cryptocurrencies on the phone. While many got whipped up into a state of frenzy, others were more circumspect about the news.
– (…) private keys (wow never would have thought!)
– MEDIA (no exceptions): IT IS ALL CONFIRMED SAMSUNG <3 #CRYPTO, MOON INCOMING.
Very well played, Samsung. pic.twitter.com/vXhLaPWPRA
— TSS (@SandorReport) February 21, 2019
Samsung Boldly Goes Where Others Fear to Tread
The news illustrates Samsung’s growing footprint within the crypto sphere, following their announcement in September 2018 that they were developing a 10nm ASIC mining chip. The technology to create a secure hardware crypto wallet has been present in most high-end smartphones for years, but this will be the first time it has been used for such a purpose. Apple, over to you…