April 4, 2019

Smartphone Giant Samsung Offers Built-in Crypto Wallet

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On February 20th 2019 the world witnessed history; the latest technological advance in smartphones to date.

Samsung’s new leading smartphone, the Galaxy S10, features an in-built wallet for major crypto currencies, supporting Bitcoin (BTC), Ethereum (ETH), and Bitcoin Cash (BCH).

The South Korean smartphone giant has developed a game changer in smartphone technology by integrating “Samsung Knox” into the new Galaxy S10. This feature employs hardware security to store private keys for Blockchain applications, including crypto currencies. As a result of this, anyone that is a new owner of the S10 will have a hardware crypto currency wallet in his or her smartphone for easy access and use.

Hong-Jun Ryu, Executive Vice President of Samsung SDS said

“Galaxy S10 is built with defence-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for Blockchain-enabled mobile services”.

The new service offers two separate parts. The first part offers a hard wallet to store your digital currencies, public and private keys and signing transactions. The second part will be used for transfers, viewing account information and transaction history.

Joseph Young, a leading Crypto Analyst strongly believes

“that this development would have a bigger impact on Bitcoin (BTC) than Bakkt or an exchange traded fund (EFT)”.

The crypto hype isn’t fizzling out.  Samsung now has a greater advantage after introducing digital currencies to the masses over the likes of Apple and Google. This will put strong pressure on them to follow suit and develop features that target crypto currency users.

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