Samsung is releasing its foldable smartphone today in its home country, and along with that, the company has come with another announcement that includes a new blockchain-based smartphone. Yes, a post from Wall Streat Journal has revealed that Samsung is working on a new flagship smartphone that will support cryptocurrency and will be called as “KlaytnPhone.”
The company has already got about ten smartphones’ release this year, including the Samsung Galaxy Fold, Galaxy S10s, Galaxy Note 10s, and now, it looks like the company is not stopping on them only. Samsung has chosen the name KlaytnPhone for its blockchain smartphone, which is inspired by a South Korean cryptocurrency built by the subsidiary company, Ground X Corp, of Korean internet company Kakao.
The smartphone actually belongs to the Galaxy Note 10 series and has got most of the features similar to the smartphones in this series. But there will be an inbuilt crypto wallet and support for blockchain included in it. Like the foldable smartphone from Samsung, for the time being, KlaytnPhone will also be available only in South Korea. According to the WSJ, the early buyers will also get a specified amount of cryptocurrency coins, i.e., Klay from Ground X Corp.
Klay is a newly launched cryptocurrency that Kakao released last year in October through its spin-off arm Klaytn. Cryptocurrencies and blockchain have been a topic of discussion for all. And, even being around for the past decade, there have been many questions about the authenticity of these technologies. But most of the big tech companies have always stood in favour of it. So the main purpose of Samsung to develop such a smartphone may be to get people familiar with this very technology and make it more user-friendly.
According to the reports, the prices for the new KlaytnPhone will start at $1000. There have been no comments from the company as yet, and if believed, according to Cointelegraph’s reports, Samsung has already launched a blockchain supporting smartphone in March this year, which is Galaxy S10. The company was also planning to build its own cryptocurrency and has invested $2.9 million into the French cryptocurrency company Ledger.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.