Samsung Galaxy S10 can securely store private keys for blockchain-enabled mobile services

Samsung Galaxy S10 cryptocurrency-1

Samsung Galaxy S10 is already available for pre-orders with sales set to commence on March 8th. As the shipping date approaches, we keep getting more info about the S10 trio. We recently came across a series of BOGO offers and other exclusives for those who pre-order the handsets and now we have come across some interesting stuff related to blockchain and cryptocurrency.

“…smartphone-based cryptocurrency wallets are the best approach to short-term and medium-term storage…”

This is according to a blog post published last summer by Samsung titled “Why Smartphones Have the Best Security for Blockchain and Cryptocurrency.”

At the time, little did we know that Samsung had plans to venture into the blockchain and cryptocurrency industry with the Galaxy S10 family. But according to a statement by the company, the S10 comes with in-built cryptocurrency wallet functions.

“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services,” the company notes in their press release announcing the S10 phones.

In the build-up to the S10 launch, rumors emerged claiming that the device would include some blockchain functions, but nothing was clear at the time. Samsung had also filed patents with the EU Intellectual Property Office related to crypto terms like Blockchain Core, Blockchain key box and Blockchain KeyStore. Well, it’s now obvious why the company filed these patents – or at least the latter.

With the Galaxy S10 set to account for millions of sales across the globe, Samsung is hoping to snatch a small chunk of the cryptocurrency storage business from hardware wallet veterans who offer more than just offline services.

Posted by
Hillary

Each one Reach one Teach one. Football Droid. Email: [email protected]

Leave a Reply

Your email address will not be published. Required fields are marked *