Samsung will introduce its latest flagship smartphone Galaxy S10. Much has already become known about the device in advance. The crypto industry is banking on a new feature that could serve to spread digital currencies.
Like the iPhone from Apple, the Galaxy S series from Samsung enjoys great popularity among customers and the technology industry as a whole. Although Samsung has in the recent past refrained from offering new features first in its flagship devices, interest remains high.
One of the new features is reported to affect crypto-currency. Last year, some companies announced smartphones based on blockchain technology. However, the number of interested parties is likely to be manageable.
Samsung could change this with the planned crypto-wallet, which was leaked recently. Screenshots showed the suspected menu of the Galaxy S10. There was a point “Samsung Blockchain Crypto” listed. It is reported to be a cold wallet to store Bitcoin, Ethereum and ERC20. So far, the company has not confirmed this, but on Wednesday it is likely to comment more.
The industry is expecting the step Opportunities that the spread of cryptocurrencies with Samsung’s step could get new momentum. Not only would it provide customers with an easy way to store, but competitors might also jump on the bandwagon and offer similar solutions.
Samsung jumped on the Blockchain train early on and is poised to become one of the biggest players in the market. The company is already a payment service provider with Samsung Pay. A combination of the Samsung Blockchain Crypto with Samsung Pay could push payments with cryptocurrencies into the mainstream.
The Galaxy S10 is scheduled to be launched on February 20 at 7:00 pm CET.
The value of Bitcoin has come down sharply in recent months, which is why many critics of cryptocurrencies see themselves confirmed. However, although there has been some disillusionment, interest in cryptos and the use of blockchain applications as a whole continues unabated. More and more companies are ready to experiment with blockchains and also in retail the acceptance of alternative payment options is growing, as Samsung’s planned push shows.
Canadian-listed NetCents Technology Inc (WKN: A2AFTK) has recently made significant strides to increase its acceptance of crypto-currency transactions significantly. The company has released its Zero Confirmation and Risk Analysis technology to ensure transactions before they are confirmed on the blockchain. The technology is to be licensed to payment processors, retailers and companies that want to ensure fast and low-risk trading. The technology will initially be used for Bitcoin transactions and will be available in a few weeks for Litecoin and Bitcoin Cash.