- The 17 apps available to Samsung users include social media apps, entertainment apps, and more.
- Only a few of Samsung’s competitors are working to establish themselves in the crypto industry.
Samsung launched their online decentralized app (dapp) store – Blockchain Keystore – in March 2019. Though it begun with four application, the company has been seeking to expand the selection. The original dapps featured a social media app, a billing app, a password wallet, and a game. However, based on reports from CoinDesk, Samsung now boasts a total of 17 crypto-focused applications, which include entertainment and additional social media applications.
Samsung seems to be making a major move for itself in the cryptocurrency and blockchain industry, becoming one of the first companies to create crypto-centric products. The release of a Galaxy S10 is a perfect example of this work. In a statement, Samsung said,
“Although other companies have not done so yet, we have already made a blockchain wallet and released it.”
It appears that Samsung is making the effort to strengthen its wallet features as it grows concerned for potential market competition. The wallet system for Samsung, after all, only allows Ethereum-based ERC-20 tokens to be stored. Presently, the biggest competitor against Samsung is Apple, though they haven’t released a wallet yet. However, in June, Apple released the “CryptoKit,” designed for the iOS 13. It is possible that the launch of other products isn’t that far behind.
Last month, “ThinQ Wallet” was trademarked by LG, which consumers believe could be the foundation for LG to launch its own crypto wallet and ecosystem. In the trademark’s documentation, the company explains that this wallet will be used for transactions, settlements, and e-money services.
Huawei, a China-based company that is another competitor of Samsung, doesn’t seem to be working on the development of any crypto-based apps yet. Huawei recently spoke with CoinDesk Korea, stating that they presently
“have no plans to put a password wallet on its smartphone because the Chinese government has not authorized it.”
Even with these new dapps, Samsung’s efforts haven’t been recognized by much of the users. Presently, only 30 reviews have been posted on the dapp products offered on the Blockchain KeyStore, while Google Play has thousands of reviews on their products.