Sure, we could be at the start of a long, painful crypto winter.
It seems nobody told Samsung Electronics that, though.
The electronics giant is moving into blockchain in a major way, or at least that’s what some recent trademark applications with the EU seem to suggest. From the Asia Times:
“SamMobile, one of the largest online communities dedicated to Samsung, ran an ‘exclusive’ claiming that the tech giant has plans to integrate crypto software with its next Galaxy S10 smartphone. Adnan Farooqui, the senior executive editor at SamMobile, was quoted as saying that ‘after hearing about the trademarks for Samsung’s blockchain and cryptocurrency software, we decided to dig around a little deeper. We can confirm that the company is indeed developing one and that it may be launched with the Galaxy S10.’”
Samsung applied for a trio of trademarks with the European Union Intellectual Property Office: Blockchain Keystore, Blockchain Key Box and Blockchain Core.
Media reports say the patents suggest Samsung will integrate some sort of cold wallet into their Galaxy smartphones. For what it’s worth, Samsung says the talks are all rumor and speculation.
BusinessKorea, citing “experts,” says Samsung’s moves might mean the start of the blockchain phone era:
“In the smartphone industry, experts say that Samsung Electronics’ trademark registration will trigger the launches of blockchain smartphones. HTC of Taiwan and Sirin Labs of Israel released Exodus One and Finney as blockchain smartphones, respectively. But no major smartphone maker has launched a blockchain smartphone model yet.”
Integrating a cold wallet into their existing smartphones would also be in keeping with Samsung’s SOP of levering what it already has to move into new markets rather than building new infrastructure from the ground up. From CCN:
“Samsung prefers to utilize and leverage its existing resources to expand into new emerging markets rather than creating an entirely new infrastructure to support it. The company established a mining equipment manufacturing business as a means to maximize the potential of its large-scale foundry and the company’s cryptocurrency wallet that is currently in development to be built into its popular Galaxy mobile phone series.
If the company is to enter the cryptocurrency exchange market, which nearly every major company in the country including telecommunications, gaming, financial, and insurance companies are involved in, it will have to build a new infrastructure from the ground up, similar to what Shinhan Bank has done with Gopax.
Instead, the company decided to utilize its existing line of products to help strengthen the infrastructure surrounding cryptocurrencies as an asset class.”
Other Korean Crypto News
(By Tim Alper, Cryptonews)
(By Nikhilesh De, Coindesk)
(By JB Lee, Coin Rivet)
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(By Eduard Watson, Oracle Times)
(By Princess Ogono, Smartereum)