Samsung on its Blockchain Smartphone Plans

Samsung on its Blockchain Smartphone Plans

Samsung barely made an impact when it added crypto and blockchain features to its flagship Galaxy S10 model.

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Samsung barely made an impact when it added crypto and blockchain features to its flagship Galaxy S10 model. However, the Korean tech giant did not surrender to despair as it revealed its plans to deploy blockchain technology down its budget line of smartphones.

Earlier this week, the senior managing director of Product Strategy at Samsung’s Wireless Division, Chae Won-cheol stated “We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the United States, and Canada.”

It was Business Korea that broke the news Samsung is keen on cryptocurrency and blockchain features. Indeed there were such rumors in early 2019 as well but crypto enthusiasts were left empty-handed when Galaxy S10 was launched. The long-promised and desperately awaited cryptocurrency wallet turned out to be available only in the US, Germany, and Korea. Needless to say, the community was disappointed and a little bit frustrated because crypto adoption seemed predestined before slipping from their fingers.

In addition, Samsung managed to take frustration to a whole new level, when it was found that the in-house crypto wallet did not store Bitcoin but only supported a couple of altcoins, tokens, and collectibles. Obviously, Samsung has to revise its marketing strategy in order to avoid such misunderstandings in the future.

Even though Samsung seems willing to bet on crypto and blockchain technologies, we do take its announcement with a grain of salt. The tech company does not specify when exactly it would add worldwide support to its built-in cryptocurrency wallet. Moreover, no clarification was made regarding the models that will come with additional blockchain features. Perhaps it may take longer than we think since we do not know how South Korean regulators will react to Samsung’s plans.

Plus, who needs a blockchain phone anyway? I mean, even newbies know that smartphones make a poor choice for long-term storage of digital assets. Indeed any device that connects to the internet is potentially vulnerable to security flaws. That being said, you should better wait and see before buying that blockchain smartphone once it hits the market.