Behold, the KlaytnPhone!
That’s how they are dubbing a new edition of Samsung’s Galaxy Note 10 smartphone that comes equipped with a pre-installed cryptocurrency wallet and 2,000 KLAY, the cryptocurrency of Kakao’s blockchain platform Klaytn.
Or so reports the Wall Street Journal (and picked up by CoinTelegraph and pretty much every other blockchain-related media, including this one). The phone will reportedly include other Klaytn features, too. Actually, according to a Chosun Ilbo report linked below, it comes with both Klaytn’s mobile wallet and Samsung’s native cryptocurrency wallet “Blockchain Keystore,” along with five BApps (blockchain applications), with Ground X planning to offer more on a continuous basis.
Unfortunately, however, the phone will only be available in the South Korean market.
As for how much 2,000 KLAY is worth, it’s hard to say. The KLAY has yet to be listed on any exchanges, though it will be listed on exchanges in Singapore and Indonesia at the end of September.
Samsung’s move did not go unnoticed by its Korean competitors.
The Korean daily Chosun Ilbo reports that LG, too, is working with blockchain developers to launch something akin to the KlaytnPhone. An industry insider told the paper that LG was likely to respond to Samsung’s move. Indeed, given that LG Electronics runs a node on Klaytn, the company might believe it was robbed by Samsung of an opportunity for innovation.
A figure familiar with the LG Group told the Chosun that the company has thought a lot about wedding blockchain technology to its smartphones, though another industry insider noted that LG’s considerations may have grown too prolonged for Kakao’s liking.
Also in the Korea blockchain space…
(By TokenPost, Sept. 5)
Korean financial services company SK Securities is joining hands with blockchain startup Kasa Korea to develop what they call a “Digital Real Estate Beneficiary Distribution Platform,” a platform for tokenizing real estate that would enable investors to trade pieces of real estate.
(By Dan Taylor, Coingeek, Sept. 6)
South Korea’s largest entertainment company, SM Entertainment, has partnered with CTIA Labs to build a cryptocurrency platform that would link the physical and virtual sides of its business. Coingeek notes, “With blockchain technology allowing more effective, efficient dissemination of media from artist to fan, thereby decreasing the influence of industry gatekeepers and censorship, it is viewed by some as an important tool for disintermediating the industry.”
(By Kim Bo-eun, Korea Times, Sept. 9)
Well, LINE got its cryptocurrency exchange license from Japan’s financial authority last week, which means the company will likely be establishing an exchange for Japan. According to the Korea Times, the company is actively seeking partnerships for blockchain-based opportunities.
(By Yoon Young-sil, BusinessKorea, Sept. 3)
South Korea’s largest commercial banks – KB Kookmin, Shinhan, Woori and KEB Hana Bank – and state-run Industrial Bank of Korea have recently formed a so-called “technology and service alliance” with blockchain firms. The banks want to get involved in the initial investment and acceleration sector, with the project management units of the banks keen on co-developing services with blockchain firms in the accelerating process. Or so says BusinessKorea.