Samsung’s new Galaxy line-up now has a new software feature which will include storage for private cryptocurrency keys. According to the press release, the new Galaxy S10 phones will now secure your “private keys for block-chain-enabled mobile services.”
“Galaxy S10 is built with defense-grade Samsung Knox, as well as secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”
Samsung just released its new flagship galaxy lineup which comes with a ton of new and exciting new feature. However, this new feature has kept the crypto-currency enthusiasts much more excited. Prior to the release, rumors regarding Samsung’s new S10 lineup to have possible configuration and support for crypto-currency wallets surrounded the Internet. Last month, some Korean news outlets also speculated that Samsung may seek to integrate the wallet function with its Samsung Pay, a mobile payment and digital wallet service, operations.
With recent comments coming in support of block-chain technology and how it can replace paper money by the genius entrepreneur, Elon Musk a blockchain precedent may be on the horizon.
“Crypto[currency] is a far better way to transfer value than pieces of paper, that’s for sure,” Musk said on the FYI — For Your Innovation podcast.
Musk further said that the technology behind bitcoin is quite brilliant but the downfall is that it requires a lot of computational power which can release a lot of heat. It’s brilliant on Samsung’s part that they are now embracing this new technology by implementing it in their smartphones, the best possible implementation on hardware as smartphones are the most personal devices that people own.
It should be noted that Samsung is not the only smartphone manufacturer to include crypto-related features in a smartphone. Last year, in May, Consumer electronics corporation HTC unveiled ‘the first native blockchain phone’, “HTC Exodus”, a block-chain smartphone which is set to be launched this year and will feature a native cryptocurrency wallet that will allow users to make and accept cryptocurrency payments to other devices, while each device would also act as a node to allow cryptocurrency trading among users.
If this trend gets successful, other smartphone manufacturers may also join the crypto-wallet bandwagon.
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