Budget Samsung Galaxy phones to get crypto features

Samsung has finally introduced cryptocurrency and blockchain support for this year’s flagship Galaxy S10 models, and the company is now considering to add crypto features for the entire Galaxy range.

The Galaxy S10 smartphones were introduced earlier this year with support for decentralized apps such as the “Samsung Blockchain Key Store” that safely stores digital keys for blockchain-based services and “Samsung Blockchain Wallet” that enables users to make payments and money transfers via cryptocurrencies. In a recent press release, Samsung announced that it will soon bring these features to budget and mid-range smartphone models. Furthermore, Samsung is in talks with Korean carriers like SK Telecom and KT Corp. regarding the integration of block-chain based digital identity verification tools.

According to Chae Won-cheol, Samsung’s product strategy team senior managing director, the Korean giant is also interested in expanding blockchain-based service availability in countries like the United States and Canada. Coindesk notes that Samsung is planning to develop its own blockchain network based on Ethereum and could issue its own token named the “Samsung Coin.”

These announcements can be corroborated with the recent BTC price surge that is apparently signaling a bull crypto market for the foreseeable future. In only 3 weeks, BTC has seen a price appreciation of more than US$3,000 (currently hovering at around US$8,000) and all other major cryptocurrencies like Ethereum and Ripple followed a similar trend. Some analysts claim that BTC could enter another parabolic rise and may reach US$50,000 by 2020.