Samsung Denies Integrating Cryptocurrency Wallet into Galaxy S10

December 12, 2018 | AtoZ MarketsThe Korean-based transnational tech conglomerate Samsung has confirmed recently, that rumors of the Galaxy S10 including a cryptocurrency cold wallet are merely speculation. The rumor was spread on the company’s community website

Rumors Have Been Refuted by the Samsung Officials

The company which had recently requested three E.U. trademarks on the European Union Intellectual Property Office (EUIPO) for blockchain- and cryptocurrency software denied suggestion that they plan to offer a  cold wallet on the upcoming smartphone. “Unfortunately we are unable to provide any information as the below is rumor and speculation”, they stated.

A cryptocurrency cold wallet is an offline method of storing cryptocurrency. Cryptocurrency itself works off of public ledgers that publish transactions using cryptocurrency. The information pertaining to an individual’s own transactions is stored in their “wallet,” and most users use online services to host their wallet. A cold wallet doesn’t require an internet connection and functions as a  local storage on a computer or even physical paper.

The three E.U. trademarks which Samsung filed, are titled “Blockchain KeyStore,” “Blockchain key box” and “Blockchain Core” respectively. All three have been filed under the category of “Smartphones; Software applications for use with mobile devices; Computer software platforms; Application,” but reveal few details as to the proposed services or applications.

The rumor was spread in one of the Samsung community sites providing Samsung Mobile news and access to the latest  ROMs for the handsets.

The website  “confirmed” that the trademarks are part of the development of a Samsung cold wallet, which “may be launched” with the company’s Galaxy 10 smartphone. Notably, two years ago the same community share another rumor that Samsung would be ditching its 3.5 mm headphone jack from its Galaxy S8 model. The aforementioned announcement was later confirmed not to be true.

Previously, this May another electronics manufacturer HTC announced release of the “first native blockchain phone,” titled “HTC Exodus 1.” According to the HTC announcement the firm’s blockchain phone will have native decentralized browser Brave. In it’s turn Samsung SDS the IT and tech subsidiary of the corporation in collaboration with major Dutch bank ABN AMRO made inroads into the blockchain space on a pilot to use the technology for shipping. This summer, Samsung SDS launched its own blockchain platform for banks as a joint project with the Korea Federation of Banks. Along with the latter project the company launched a further blockchain implementation that targets the logistics industry.

However, the Samsung community example shows that any kind of announcement, especially if it posted not on the official company website cannot be taken seriously without solid evidence. Just because it’s in print doesn’t mean it’s true.

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