February was a special month, not just for Samsung users but also for crypto enthusiasts. The Korean giant phone company unveiled the Samsung S10. Among its unique features is the new and rare inbuilt crypto wallet.
We can no longer deny that the world is slowly moving the crypto way. This move will boost crypto’s adoption world over especially in the crypto virgin markets where Samsung’s dominance is obvious. We are also likely to see more smartphones following Samsung’s move in including crypto wallets in their smartphones.
Samsung has been showing signs when it applied for crypto patents at the European Union Intellectual Property Office. But it didn’t yet reveal the digital currencies that its wallet would support. However several rumors have hinted the cryptos likely to be supported.
The hinted currencies are-Bitcoin, Ethereum Enjin, Cosmee ICON, and BAT. During the presentation in Barcelona, Samsung confirmed the integration of Ethereum, Bitcoin, Enjin, and Cosmee. As for BAT and ICON, it is speculative.
The Bitcoin Cryptocurrency
It wouldn’t be a crypto wallet really if it doesn’t support Bitcoin, would it? And Samsung knew that there is a demand for the most popular cryptocurrency. Bitcoin’s market capitalization alone stands at $67 billion. Although it’s a shadow of what it was in late 2017, there are predictions that the market will recover and beat its December 2017 peak in the coming years if not months.
Samsung sees the Bitcoin market as a window of opportunity into the cryptocurrency market. The fact that the cryptocurrency is mostly used as a payment method is also attractive.
Cosmo CHAIN dApp
Cosmo recompenses users with coins on its social media platform and will be the first decentralized Application to partner Samsung. Through a mutual ecosystem, Cosmo CHAIN links companies and clients. The company was present at the S10 presentation, perhaps an indicator that it is part of the Samsung crypto wallet.
ICON And The CHAIN ID service
Reports had already indicated Samsung’s existing partnership with ICON on the CHAIN ID service. The fact that the two companies are based in South Korea further propelled the partnership.
CHAIN ID service by ICON is the first of Blockchain joint authentication platform. It might be used to unlock phones and CHAIN ID to allow transactions. ICON boasts of the CHAIN id’s ability to keep hackers away and promote a convenient environment for its users.
Basic Attention Token (BAT)
The BAT is part of the brave browser with a distinctive business model for content creators and advertisers. It focuses on digital advertising as part of the web browser. The business model enables users to tip favorite content creators through the BAT token.
The BAT platform also enables users to buy ads. The brave browser, being part of the Samsung s10 means serious competition with google chrome.
The Ethereum Cryptocurrency
There are reports that the Samsung wallet will support Ethereum by default. Ethereum is one of the leading crypto and Samsung might have settled on the cryptocurrency to facilitate payments.
Among other cryptos in business with Samsung is Enjin. It is even reported that Enjin partnered with Samsung in the creation of the Blockchain wallet. Although it focuses on gaming, it also provides a mobile crypto wallet. Even in its presentation, Samsung used various Enjin crypto wallets.
We might not know much of what the Samsung crypto wallet will entail, but one thing we are sure is- the battle for the best Blockchain smartphone has just started.