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Why Samsung plans to integrate Crypto Cold Storage into its S10 series




  Samsung Galaxy's Cryptocurrency Crypto

According to SamMobile, the world's largest Samsung community, the electronics giant plans to integrate a cold wallet system into its forthcoming Galaxy 10.

Adnan Farooqui, General Manager of SamMobile, wrote:

" After hearing about the trademarks of Samsung's blockchain and cryptocurrency software, we decided to dig a little deeper. We can confirm that the company is actually developing one and that it can be launched with the Galaxy S1

0. "

Reasons behind Crypto Wallet Integration

Since early 2018, Samsung, the largest conglomerate in South Korea, dominated by many of the country's largest sectors, including insurance, online payment, asset management, automotive, electronics and property development, has shown an interest in the crypto sector.

Like other conglomerates in the local market, Samsung entered the crypto sector with a focus focused on Bitcoin mining, and creates mining equipment from its foundry based in Suwon, South Korea, to ship to international distributors.

Throughout recent months, reports claimed that Samsung has been working with Halong Mining in China and Squire in Canada, but in December, the partners' distributors of Samsung's ASIC mining pieces are unclear.

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For over eight months, the company has gradually increased its mining business and cryptocurrency The wallet appears to be the company's next target market.

Samsung prefers to exploit and exploit its existing resources to expand into emerging emerging markets, instead of creating a brand new infrastructure to support it. The company established a mining equipment manufacturing facility as a means to maximize the potential of its large foundry and the company's crypto-currency wallet that is currently being developed to be incorporated into its popular Galaxy mobile series.

If the company is to enter the crypt exchange exchange market, which almost all major companies in the country, including telecommunications, gaming, finance and insurance companies are involved in, a new infrastructure from the ground has to be built by Shinhan Bank with Gopax .

Instead, the company decided to exploit its existing product line to strengthen the infrastructure surrounding crypto curves as an asset class.

According to SamMobile, the wallet will be integrated into the Samsung Galaxy S10, users will be able to import their data from wallets like MetaMask and Trust Wallet to transact native to the mobile phone.

The publication is ported:

"Samsung's cold wallet app will allow users to import their existing wallets from third-party services like Metamask or TrustWallet. They also want to create a new one in the app itself. Cryptocurrencies and tokens are supported in Basically, Bitcoin, Ethereum, Ethereum-derived token ERC20 and Bitcoin Cash can be included. "

Difficult times for hardware-focused companies

Companies dominating the global mobile phone market, including Samsung, Apple, HTC, Huawei and Oppo, can easily integrate crypto curves and Provide native support for the asset class.

In the bull market in 2017, many projects claimed hundreds of millions of dollars and one – Sirin Labs – claims to have increased nearly $ 158 million in a first coin offer (ICO) to create mobile phones with built-in crypto currency support to compete against the movements in the mobile market.

As companies like Samsung integrate crypto-currency support, projects that focus on creating hardware can still be irrelevant. [19659003] Shutterstock

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