Samsung To Give Crypto Industry Major Boost As It Plans to Include New Crypto Apps in its Blockchain Keystore

Samsung considers Blockchain Technology for tracking shipments – Blockchain News

Cryptocurrency News Today – According to cryptocurrency latest update, Samsung’s online dApp store, Blockchain Keystore which was launched in March 2019, has developed from an original four applications to an aggregate of seventeen. The four original dApps comprised of a password wallet, a game, a social media app, and a billing app whereas the new dApps comprise a variety of products from social media app Anpan to entertainment app The Hunters.

The company has already made a blockchain wallet and released it. Thus far, Samsung is among the first big companies to create crypto-centric products with the release of the Galaxy S10 in 2019. Samsung has incorporated over a dozen new apps in its Blockchain Keystore online app market. Samsung’s app will have two parts: a cold wallet for keeping cryptocurrency and private keys and a hot wallet for crypto transactions. Although names for the app have not been concluded yet.

Cryptocurrency News Today – Cryptocurrency Latest Update – Samsung Ahead of Competitors in the Crypto Market

In July 2019, LG trademarked “ThinQ Wallet,” a product that market insiders consider is the basis for a crypto wallet and ecosystem. The trademark affirms the ThinQ Wallet will proffer transaction, settlement, and e-money services. Before the release of Samsung’s app, it was stated that the app will allow operators to import existing wallets from other services like Metamask and TrustWallet. The wallet would originally support bitcoin, ether, bitcoin cash, and other ERC-20 tokens. Thus far, Samsung’s wallet system only permits for storing of Ethereum based ERC-20 tokens and protocols. The new mobile phone doesn’t presently support bitcoin, even though Samsung featured bitcoin logo on its pre-release demonstration images.

Speaking on the latest addition, Samsung stated in a recent interview with Coindesk Korea “Although other companies have not done so yet, we have already made a blockchain wallet and released it.”

Apple is competing strongly with Samsung, though they are yet to release a wallet. Last month, Apple released a CryptoKit for iOS 13, showing that they can dance to the tune of the market request. Another company competing strongly with Samsung is China’s Huawei, up to date Huawei is yet to create a cryptographic wallet. In an interview in May, Huawei stated that they “have no plans to put a cryptocurrency wallet on its smartphone because the Chinese government has not authorized it.”

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Samsung’s determinations are, debatably, off to a slow start. Currently, there are only 30 reviews on Samsung blockchain wallet on the Galaxy Store whereas some crypto wallets on the Google Play Store have over thousands of reviews. Four dApps are also available for Galaxy S10 mobile phones. As assumed by operators, Galaxy S10 supports the beauty social media app Cosmee and crypto gaming platform Enjin. There are presently two more dApps available, which is the blockchain game CryptoKitties and payment service CoinDuck. All dApps will be supported by the Samsung Blockchain Wallet.

Meanwhile, LG has also filed trademark application for ThinQWallet in the U.S. that will supposedly proffer several services such as issuance of cyber money, a computer software platform for blockchain, and mobile electronic wallet for cryptocurrency.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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