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Samsung Electronics to promote blockchain-based ID card, local currency

‘Galaxy S10 is the first step toward blockchain ecosystem’

  • James Jung
  • 2019-05-13 16:46:54
Samsung Electronics to promote blockchain-based ID card, local currency

Samsung Electronics plans to come up with more smartphones supporting blockchain following Galaxy S10. In his contribution to Samsung’s newsroom Monday, Chae Won-chul, head of the product strategy team at Samsung’s mobile business division, said, “The Galaxy S10 series is the first step for invigorating the blockchain ecosystem. We will continue to sophisticate blockchain security and convenience functions and broaden the prospect for relevant technology.”

“We will expand smartphones supporting blockchain after Galaxy S10 and offer services in more countries following Korea, the United States and Canada,” said Chae, adding that technologies related to blockchain-based ID card and local currency will be promoted in cooperation with telecom operators.

The Galaxy S10 series of smartphones have made it possible to manage “private keys” safely by equipping themselves with the “Blockchain KeyStore.” This enables individuals to pay and transfer money through diverse blockchain applications without the separate hardware wallet.

“We are receiving a flurry of inquiries about cooperation in various areas because Galaxy smartphones can pave the way for blockchain services to make inroads into the global market. Consumers, for their part, will also be able to enjoy new blockchain services while keeping their crypto assets in smartphones safely,” Chae said. jms@decenter.kr


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