Foxconn, the leading manufacturer of hardware and third-party phones, has reportedly entered a partnership with Sirin Labs to build the “Finney”, the first phone that will have blockchain embedded functions, according to a report from Bloomberg. Sirin Labs raised around 160 million dollars on an Initial Coin Offering earlier this year but had yet to announce the third party who would manufacture the phone’s hardware.
The “Finney”, like the other Sirin Labs products, is designed to massify the adoption of cryptocurrencies, without sacrificing security for the end user, or ease of operation. The Switzerland based company has also designed a series of devices around this idea: a PC designed with security in mind, integrating biometric sensors for identification purposes.
With this partnership, Sirin aims to ship the phone in the fourth quarter of this year, commercialized by themselves in a shop chain to be opened in economic blockchain centers in Asia. The company has announced that they have preorders of 25,000 phones till the date and expects to build momentum with the phone launch to build more than 100,000 phones this year. The price of the Finney, as stated on their website, will be around 1,000 dollars.
Sirin has also maintained talks with Huawei to manufacture some of its products, but it seems that Foxconn gave them a better offer. Foxconn has been known to build parts for some of the world largest companies, like Apple. Sadly, it was also known for the suicide of some of their workers in 2011, a fact that made them install catch nets in their factories.