Samsung may have just blessed the cryptocurrency industry with the launch of a new product. The company’s newest smartphone, the Galaxy S10, has been created with “Samsung Knox” and built-in storage hardware for private crypto keys. The announcement came in a press release published on Wednesday, February 20th.
The is a next generation smartphone like no other.
The next generation Galaxy has arrived.
— Samsung Mobile US (@SamsungMobileUS)
“Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services,” the reads.
It’s not completely clear whether the new phone will come equipped with its own native crypto wallet interface, or if third-party developers will need to create wallets that can be used in tandem with the phone’s hardware.
Previously, Twitter tipster Gregory Blake published leaked photos of a Galaxy S10 displaying something called the “Samsung Blockchain KeyStore”, an integrated feature that appears to allow users to have full control over their private keys and cryptocurrency funds.
Galaxy s10 with crypto wallet?
— Gregory Blake (@GregiPfister89)
However, neither the KeyStore nor any other integrated wallet feature was mentioned in yesterday’s press release.
The phone is rumoured to contain the Exynos 9820, an application processor chip with PUF (physical unclonable function) technology. PUF technology creates digital fingerprints that provide unique identities for microprocessors and similar devices. If it is present in the phone’s hardware, the Exynos 9820 would guarantee a high level of security for cryptocurrency storage.
IT expert Han Ho-Hyeon explained that “PUF technology has been added to the Exynos 9820 revealed by Samsung Electronics last year and if the Galaxy S10 features a blockchain-based crypto wallet, the probability of Samsung Electronics utilizing the PUF is very high.”
Are Crypto Wallets the Latest Trend in Mobile Phone Manufacturing?
Samsung is certainly not the first company to create a mobile phone with integrated cryptocurrency storage capabilities, but it is definitely the first major player within the space to do so. Previously, in December of 2018, Sirin Labs launched the ‘Finney’, the ‘world’s first’ blockchain smartphone. Taiwanese consumer electronics firm HTC is also in the process of developing and launching the ‘Exodus’, another crypto-capable blockchain smartphone.
Some predict that a growing number of smartphone manufacturers will begin adding crypto storage capabilities into their products. Brendan Lee, creator of CoinStorageGuru, told Finance Magnates in an email last week that “it wont be unreasonable to see other phones moving towards this model as well.”
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