Plans to Integrate #Crypto
Cold Storage in its S10 Series
According to SamMobile, the biggest online #Samsung
community, the electronics giant is planning to integrate a cold wallet system into its upcoming #Galaxy
Adnan Farooqui, the senior executive editor at SamMobile, wrote: “After hearing about the trademarks for Samsung’s blockchain and cryptocurrency software, we decided to dig around a little deeper. We can confirm that the company is indeed developing one and that it may be launched with the Galaxy S10.” Reasons Behind Crypto Wallet Integration
Since early 2018, Samsung, the largest conglomerate in South Korea that has dominance over many of the country’s major sectors including insurance, online payment, asset management, car manufacturing, electronics, and property development, has demonstrated its interest towards the cryptocurrency sector.
Dissimilar to other conglomerates in the local market, Samsung entered the cryptocurrency sector with a venture focused on Bitcoin mining, creating mining equipment from its foundry based in Suwon, South Korea to ship to international distributors.
Throughout the past several months, reports claimed that Samsung has been working with Halong Mining in China and Squire in Canada, but as of December, the partner distributors of Samsung’s ASIC mining chips remain unclear.
Samsung #Blockchain #crypto
For over eight months, the company has been gradually increasing its mining business, and the cryptocurrency wallet sector seems to be the company’s next target market.
Samsung prefers to utilize and leverage its existing resources to expand into new emerging markets rather than creating an entirely new infrastructure to support it. The company established a mining equipment manufacturing business as a means to maximize the potential of its large-scale foundry and the company’s cryptocurrency wallet that is currently in development to be built into its popular #Galaxy #mobile #phone
series. #bitcoinnews #bitcoininfo