After several months of rumours regarding a possible crypto integration with the latest Samsung Galaxy S10, the company confirmed that the new device would be featuring an integrated cryptocurrency wallet. The information was released by Samsung in a recent blog post on February 20.
The Galaxy S10 has been formally unveiled on Wednesday and it includes a new function that is specifically targetting cryptocurrency holders. The new implementation is known as Samsung Knox and it has been designed for storing private keys for blockchain-enabled mobile services.
The smartphone has been leaked on several occasions in the past, starting more than six months ago. And indeed, several reports suggested that the smartphone was going to include a native cryptocurrency wallet. These rumours have been confirmed, and the phone will be supporting major currencies such as Bitcoin (BTC) and Ethereum (ETH), the two largest digital assets in the market.
Developers will be able to use the feature creating hardware wallets using software. That means that S10 owners will have the possibility to have an integrated hardware wallet. Nevertheless, there is no information on whether the company will be featuring a full-scale wallet developed by Samsung itself.
Samsung is not the first company that releases a smartphone with blockchain-related services and features included by default. HTC created the Exodus 1.
Moreover, Sirin Labs gathered funds through an Initial Coin Offering (ICO) several months ago in order to create a new phone with a full-scale hardware wallet integrated on it.
Samsung is going to be the first large smartphone manufacturer in adding support to virtual currencies on its flagship device. Both Google and Apple would also have to think about similar solutions for its clients if they want to remain competitive in the space.
However, the decision that Samsung took is very important for the crypto market because it gives legitimacy to Bitcoin and other virtual currencies in the space. The South Korean technology company has also unveiled a new smartphone that folds in half and is called Galaxy Fold.
If the phone is folded, it looks like a standard mobile device with a 4.6 inch display. If the device is opened it offers a 7.3 inch tablet. The new Galaxy S10 phones start at $749 for Galazy S10e series and $999.99 for Galaxy S10+.