South Korean tech giant Samsung Electronics is reportedly planning to add its cryptocurrency wallet to budget Galaxy smartphones, and work with local telecom firms on blockchain-based initiatives. It has teamed up with SK Telecom and KT Corporation to create new solutions for digital identity authentication as well as local currency sectors. The company will also expand its target countries beyond Korea, the United States and Canada, he said.
The Samsung Blockchain Wallet is now only available on Samsung's recently launched flagship phone range, the Galaxy S10.
Earlier, Samsung Electronics loaded the strategic smartphone Galaxy S10 with a "Samsung Blockchain Key Store" that can safely store private keys to blockchain-based services and "Samsung Blockchain Wallet" that supports payment and money transfers through cryptocurrencies. The S10 additionally comes with blockchain features such as digital signing and decentralized apps (dapps), which the report appears to suggest may also be added across the Galaxy range. SK Telecom and KT are now creating business opportunities in blockchain-based ID cards and local currencies. For instance, Samsung will develop blockchain-based identification, Chae said.