Blockchain Enabled Smartphones; The Next Big Thing In Crypto

 

blockchain phones
Smartphones

Since blockchain debuted through the bitcoin protocol, we have witnessed the rise of this innovative technology. Almost a decade now, blockchain and cryptocurrency industry is still taking centre stage.  Gradually the technology is starting to take root across every industry all around the globe.

The potential applications of blockchain technology and how it’s will effect a transformative change across every traditional industry is apparent. While vast of the innovations we are witnessing in the space today are pioneer of what is to come in the not too distant future. Reports over the last six months are indicating the phone manufacturing industry could be the next to witness this transformative change.

Mainstream adoption of the technology all around the globe is increasing and the emergence of blockchain phones could be the next big thing in the crypto/blockchain industry. Whether 2019 could be the year for blockchain phones is a matter of debate, however, we are likely to see an increase in adoption on blockchain phones next year.

Blockchain Ready Smartphones In The Market

Brazil based cyber security company Sikur was the first to announce the release of their own version of blockchain enabled phone. According to the firm, it’s a fully encrypted, multi-signature phone that is hack-proof and comes with an inbuilt cryptocurrency wallet that makes it easier to store funds, as well as test and demo bitcoin applications.

In November 2018, Swiss-based blockchain focused Smartphone company Sirin Labs released their blockchain powered phone Finney which run on Sirin Android OS and comes with a cold storage cryptocurrency wallet, a blockchain store for decentralise applications (DApps) amongst other features.

Recently, popular consumer electronics company HTC also rolled out their own blockchain phone HTC Exodus 1 which comes with s crypto storage facilities, BAT token decentralized Brave browser and some security features. The blockchain phone can act as a node on the HTC network and cryptocurrency transactions are free.

According to reports, China’s based phone manufacturer Huawei is planning to build a blockchain-enabled smartphone that supports Dapps.

Samsung another leader in the phone industry filed a patent for three blockchain and crypto related features such as cold wallet storage, cryptocurrency wallet for transfers and viewing transaction history amongst others.

According to reports some of these features they plan to integrate into its Galaxy S10 series. The news which was however refuted by the South Korean based tech giant. Whether the story is mere rumours or speculations, it’s a pointer to the momentum building up.

The Smartphone industry is known to be ahead when it comes to cutting edge of technological innovation. This evident in the yearly release of new phone which comes with new features as well. Considering how competitive the phone manufacturing industry is, the emergence of blockchain powered phone could spark a new battle between these phone manufacturers as we’ve seen before.

 

Closing Thoughts

The crypto market over the past five years we have witnessed the rise of ICO, stablecoins amongst other cutting edge innovations. Each of this brings something new to the space. However the rise of blockchain phones will further bring the crypto and blockchain to the limelight.

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Passionate about the fintech space in Africa, blockchain enthusiast, cryptourrency advocate, freelance writer, open to learning new innovations #InnovateAfrica