Coinduck, a cryptocurrency payment service, has been installed on the Galaxy S10, Samsung Electronics’ flagship smartphone.
Chain Partners said Monday that its subsidiary Coinduck’s payment service had been installed on the Galaxy S10, noting that users of the smartphone will be able to pay with cryptocurrencies at online and offline stores partnered with Coinduck.
Coinduck, which was chosen to join Samsung’s startup nurturing program C-Lab in December, has been closely collaborating with Samsung to build the cryptocurrency payment service. Coinduck made its debut in January last year as the world’s first Ethereum-based payment service. Having 1,000 affiliate members in Korea, Coinduck even has members in Zug, which is renowned for allowing citizens to pay taxes with cryptocurrencies.
“Still, it’s doubtful who will use volatile cryptocurrencies in payment. But the situation can change overnight if we link some cryptocurrencies pegged to the won or U.S. dollar to Coinduck and enable people to pay via such widely used phones as the Galaxy,” said Coinduck CEO Shin Min-seop. “We especially expect payment through cryptocurrencies to boost foreign travelers’ consumption here and reduce inconveniences confronting overseas customers in using online shopping malls in Korea.”
Coinduck’s cryptocurrency payment service can be used by downloading Samsung’s blockchain wallet app at the Galaxy S10. Users click Coinduck at the DApp tab and scan the QQ code of each affiliate member, which will result in the payment amount being entered.
The amount is converted into the present cryptocurrency price automatically. If users press approval, payment is complete with the cryptocurrency in the wallet subtracted automatically. The previous cryptocurrency payment method was inconvenient because users had to copy the wallet’s address and paste it in an individual wallet. The usability of the wallet has improved significantly with the linkage of Coinduck and Samsung’s blockchain wallet.
Coinduck still receives solely ether (ETH) as a payable cryptocurrency but has a plan to increase cryptocurrencies it supports through linkage with Daybit (http://daybit.com), a cryptocurrency exchange operated by Chain Partners. /email@example.com
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