Mobile companies are waking up to the fact that consumers want cryptocurrency integration. Could we see more mobile cryptocurrency integration in the future? We might! There aren’t a lot of market based solutions for phones with cold wallets for crypto storage, but we might start seeing more and more of them in the future. HTC and Sirin are two companies that have offered a blockchain phone in the past few months, but those aren’t really the catalyst needed for mass adoption. But Samsung? Samsung might be joining the gang soon, ready to offer consumers a mobile cryptocurrency integration solution that is cryptocurrency-friendly.
We might see it as soon as the Galaxy S10.
There is a massive difference between buying a phone because it has blockchain technology and buying an already mass-adopted phone like the Galaxy series that features blockchain and cryptocurrency support. Galaxy Club revealed that Samsung filed several trademarks in the European Union (EU) that suggests the company is interested in moving into the blockchain/cryptocurrency space. The evidence is in the following: Blockchain KeyStore, Blockchain Key Box, and Blockchain Core.
SamMobile followed up on the news and discovered that Samsung is indeed working on its own cryptocurrency service. They speculated that the service might debut alongside the Galaxy S10 next year. Samsung’s cryptocurrency offerings might include a cold wallet, public and private keys, and the ability to sign private keys for crypto transactions.
They might also offer a secondary wallet that would facilitate transfers, account information, and transaction histories. The names for these two products have not been finalized.
The product of interest, however, is the cold wallet. A cold wallet is a cryptocurrency wallet that’s more secure for storing Bitcoin and other cryptocurrencies. Cold wallets typically are kept offline, which helps it be more secure than an online wallet, or a hot wallet. A hot wallet includes one hosted on an exchange or a type of online software.
Using Samsung’s services in regard to a cold wallet, users could expect to be able to import wallets from other services into their cold wallet, including Metamask, TrustWallet, and others. The wallet would support Bitcoin, Ethereum, ERC-20 tokens, and Bitcoin Cash. Typical of cold wallet storage, Samsung wouldn’t have access to the data stored on the cold wallet, and users would be able to recover the contents through a 12-24 word phrase. We have found out that Samsung’s Bitcoin app would require authentication via a PIN or a fingerprint to access the cold wallet.
Details on the second wallet that would allow transfers of cryptocurrency aren’t out yet. It’s likely that the hot wallet would have various security features in place to protect their users. Samsung is expected to unveil the Galaxy S10 in February and launch it in several markets a few weeks after unveiling the Galaxy S10. We’ll have more information when it comes out.
What do you think? We know the markets are slumped – we’ve known this for the entire year of 2018. But moves are being made to mass adopt cryptocurrency. Financial institutions are coming into the space. Retail investors are too. We firmly believe we’re early adopters in this space. Have you given up? Or will you persevere? Let us know on our Facebook page.
