As per speculations, South Korean Electronic giant Samsung is seeking a UK trademark for developing its own cryptocurrency wallet, according to a trademark filed on December 27 with the U.K. Intellectual Property Office (IPO).
The filing is titled “Samsung Crypto Wallet,” does not reveal much about the company’s future, although the term “crypto wallet” made it obvious.
Following the speculations, many predict that Samsung might be working on something that is “associated with cryptocurrencies.” Nevertheless, the high-end smartphones might come with pre-installed crypto features. The prices of these smartphones are expected to start from $750.
In the “Classes and terms” section of the application, Samsung indicated the developments as:
“Computer software for use as a cryptocurrency wallet; Computer software for cryptocurrency transfer and payment using blockchain technology; Computer application software for smartphones, namely, software to allow users to transfer cryptocurrency based on blockchain technology and pay via 3rd party’s application software.”
Samsung earlier refused to accept the rumors of it planning to integrate crypto cold wallet in Galaxy S10 devices. However, the application did mention about the integration. On December 10, Samsung filed for three European Union trademark applications for crypto and blockchain related software.
Another smartphone maker, HTC earlier integrated a decentralized browser ‘Brave’ on the Exodus 1 phone, calling it “the first native blockchain phone,” providing support for blockchains such as Bitcoin and Ethereum networks.
The current scenario has left crypto users hunch on if the wallet could be integrated on one or a stand-alone hardware wallet. For now, it is not clear if the trademark filing is either an offensive or a defensive one.
As of now, there are a plethora of blockchain-backed smartphones that are entering the market. However, the features are not massive and if there are any, they are not continual.
Blockchain-powered smartphones have been a disappointment so far; however, in the near future, crypto-enthusiasts will appreciate these new smartphones.