Saad Ullah
SamMobile, the largest Samsung community online, is confidenton crypto wallet integration by the electronics giant in their upcoming S10 mobile.
Senior Executive SamMobile, Adnan Farooqui, wrote, “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’s Approach
The South Korean electronics giant is one of the biggest mobile manufacturers in the world. Its Sand Noteseries are its flagship mobiles. The company has a significantly wide portfolio in electronics and has used it to leverage its entrance into blockchain industry. Unlike other organizations that invest in new infrastructure, the company used its already existing large scale chip manufacturing facilities to develop mining equipment.
With now a significant player in the mining hardware business, the electronics company is turning towards integrating hardware based wallets into its mobiles. The integration would give the company a significant edge in its business as it will be offering something that its main competitor, Apple, still not does.
Hardware Competition
Samsung is not the first mobile manufacturer that is offering a hardware wallet in their devices. HTC has its Exodus 1already out in the market. The rise of mobiles manufacturers offering hardware wallets is an emerging sign for other hardware wallet manufacturers that if this trend pics up, people might just prefer to have a cold, hardware wallet in their mobile that they can access easily rather than carrying two separate devices. On the software front, this also has the potential to affect a lot of soft, mobile based wallets.
As cryptocurrencies become more and more mainstream, there is a huge market for mobile based wallets. Users are, however, always skeptical when it comes to the security of their digital assets. A hardware wallet within a mobile offers the best of both worlds: offline storage and instant access when needed.
Saad Ullah
