Giant Smartphone manufacturer has integrated new cryptocurrency features into the latest product in the Samsung S series.
The Rumors are True
Late last year in December, news, and rumors filtered into different ws outlets and social media that Samsung would be introducing a new cold wallet for cryptocurrencies into the latest series of Samsung Galaxy.
Following three quick filings by Samsung for European Union trademarks on blockchain and cryptocurrency related software; it is no surprise that speculations of a crypto wallet feature spread like wildfire.
Samsung would, however, move quickly to debunk those, calling them unfounded and distancing themselves as much as they could.
“Unfortunately we are unable to provide any information as the below is rumour and speculation.”
It turned out that smart speculators were right on point after all.
Samsung Pay behind New Update?
Samsung Pay has been touted by a major local outlet, Korea Herald, as the platform where the cryptocurrency integration would be targeted. If the speculation turns out to be true, cryptocurrency might just be on the verge of real adoption. The Samsung Pay platform which is integrated into most Samsung smartphones has millions of users and provides invaluable global financial services for its users across the world. Between 2017 and 2018 alone, Samsung Pay user base increased by 6.6 million users. As of this moment, the financial service platform has more users than Instagram in South Korea.
The new range of products that are being released: S10, S10+, and S Fold mark the tenth year since the first Smartphone in the S series was released. The new products which cost between $700 and $1000+ have been upgraded significantly with key features such as improved camera, new 5G connectivity, and Dynamic AMOLED display which is the best screen available.
However, the most important upgrade that would likely catch the eyes of crypto enthusiasts is the introduction of Samsung Knox, which would allow users to store private keys for blockchain-centered applications such as cryptocurrency wallets. The new feature would be only made possible due to the new powerful processor that was revealed by Samsung last year November. Concerning the new processor, Exynos 9820, Samsung stated:
“The Exynos 9820 features a physically unclonable function (PUF), also known as a digital fingerprint, to manage personal data in perfect isolation, making for more reliable security. PUF generates an unclonable key for data encryption by using the unique physical characteristics of each chip. While the PUF creates a unique digital fingerprint, the security subsystem is a secure key manager that supports other security protocols, such as key generation, storage, and derivation.”