First-Blockchain-Smartphone-FINNEY-to-Launch-November-29-2019-By-SIRIN-Labs-Swiss-Company

First Blockchain-Based Smartphone Will Be Launched By Swiss Company SIRIN Labs

SIRIN Labs, a Swiss-based company that is focused on creating products using the blockchain technology has made an interesting announcement: the company will hold a luanch party for its first blockchain-based smartphone tomorrow, November 29.

In December 2017, SIRIN realized an Initial Coin Offering (ICO) fundraiser that helped it to raise over $157 million USD to create a new phone using the blockchain technology. Unlike many other ICOs that failed to deliver what they promised to the investors, this Swiss-based company has been successful at its mission.

The FINNEY Blockchain Phone

SIRIN Labs will launch FINNEY, a new blockchain-enabled smartphone, still this month. The technology will be based on the Android operating system and will use the open source technology created at SIRIN Labs. The product will be sold initially by $1,000 USD, meaning that it will be a somewhat expensive phone, despite all its technology.

FINNEY will also have the Token Conversion Service (TCS), which can be used by the owner of the phone to eliminate the need for visiting external exchanges in case you want to convert your tokens.

The CEO of the company has affirmed that the new product will be mainly used as a way to simplify the process of using cryptos on P2P networks while using a system that will be based on the popular Android OS, so it will be easy for the users.

This new phone, as it was reported before, may have its technology coming from SIRIN Labs, but it will be manufactured and developed by the Foxconn Technology Group, which is based in Taiwan and manufactures products from major companies like Google, Amazon, Apple, Cisco and Huawei.

The “Almost” First Blockchain Phone

While talking about FINNEY, it may be worth to remember HTC Exodus. HTX Exodus was the phone promised by HTC. It would be the first native blockchain phone and it promised a lot, but it did not deliver.

The launch was postponed and the company has affirmed that instead of following its old plans and releasing a smartphone with a native blockchain, the company would rather simply launch a phone with an Ethereum (ETH) wallet instead and with the CryptoKitties. So much for that ambition, huh?

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