Samsung, the South Korean technology giant, is reportedly working hard to integrate crypto wallet on its innovative addition – Galaxy S phone series. As reported by news site SamMobile (biggest online Samsung community), the company has been developing a cryptocurrency wallet application for Galaxy S10 which is set to launch next year.
The report says that the app will feature a ‘cold wallet’ which intends to store cryptocurrencies and user private keys and a separate ‘hot wallet’ that is used for cryptocurrency transactions.
Trademark Reveals Samsung’s Cryptocurrency Plan
As per the Galaxy Club, Samsung has filed three trademark applications in the European Union’s Intellectual Property Office, which reveal the company’s ambitious plan on the blockchain.
The paperwork for the applications for Blockchain KeyStore, Blockchain KeyBox, and Blockchain Core is filed in EU’s Intellectual Property Office.
Crypto Wallet and the Reason Behind Its Integration
Samsung, since the start of the year, has exhibited its affinity towards the cryptocurrency sector.
The company entered the cryptocurrency sector with Squire Mining (a Canadian manufacturer of mining chips) which is focused on Bitcoin mining. Samsung has its foundry based in Suwon (South Korea ) which manufactures mining equipment and ships to international distributors.
The tech giant has decided to utilize its existing line of products to strengthen the infrastructure surrounding cryptocurrencies as a resource.
Samsung which has a craving for innovation and technology, will not be restrained; with HTC ’s blockchain phone ‘EXODUS 1’ all set to launch in December’18 it is expected that the Korean firm will hit back with full potential in blockchain technology.
According to SamMobile publication, mobile users will be able to import their data from wallets such as MetaMask and Trust Wallet to transact natively, if the wallet gets integrated into the Samsung Galaxy S10 mobile phone.
The publication reported,
“Samsung’s cryptocurrency cold wallet app will enable users to import their existing wallets from third-party services like Metamask or Trust Wallet. They can create a new one in the app. The cryptocurrencies and tokens may initially support Bitcoin, Ethereum, Ethereum-derived token ERC20, and Bitcoin Cash.”
It can also be noted that Samsung has a massive 65% share in South Korea, which is the world’s most anxious cryptocurrency country
What’s your opinion on tech giant like Samsung planning for the crypto wallet? Share your thoughts in the comments.