Samsung S10 Crypto Wallet sets the industry standard?

New Samsung S10 Crypto Wallet smartphone has been unveiled! The Galaxy S10 will include a dedicated secure storage function designed for cryptocurrency private keys.

February 22, 2019 | AtoZ Markets - South Korean tech giant, Samsung has unveiled a slew of new products on Wednesday, among which is the new Galaxy S10 smartphone. 

According to a press release, the Asian company said blockchain technology was not left out of the mix as its new Galaxy S10 is designed to enable users to store cryptocurrency private keys. 

In a press release, the world’s largest smartphone producer explained: 

"Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”

In addition to these features, the Galaxy S10 is built with an upgraded camera system that features advanced intelligence (AI), wireless charging of other smartphones, 8GB RAM and 256GB storage (on the base model) and a number of other features.

Does galaxy S10 include a crypto wallet?

It is noteworthy, in December 2018, leaked photo implied that the S10 would include a wallet app with two parts: a cold wallet for storing and managing cryptocurrency and blockchain private keys and a hot wallet for crypto transactions. 

Moreover, some images surfaced earlier in January suggesting that the Samsung’s flagship S10 will come with a “Samsung Blockchain Keystore”, an in-built crypto wallet that support both Bitcoin (BTC) and Ethereum (ETH). However, no such thing was mentioned in yesterday’s press release.

If the South Korean electronics giant happens to feature a crypto wallet, it could indicate a major shift towards such technology being standard on smartphones, thus helping cryptocurrencies to achieve mainstream adoption.

Meanwhile, the rumored crypto wallet feature is expected to be confirmed this week at Samsung's Unpacked event. Such announcement caused a huge wave of reaction in the social media, in the Reddit especially. Some users seemed very happy about the Korean tech giant's initiative, calling it "good" and "epic" :

Certain Reddit users expressed their scepticism about the company's innovation, calling it "untrue" and doubting the "closed Samsung wallet security" over the open source alternative.

Companies making blockchain smartphones

Regarding blockchain, Samsung appears not to be the only major smartphone manufacturer to have designed smartphones with crypto-related capabilities. 

In May 2018, HTC unveiled its first native blockchain smartphone, HTC Exodus. While it features Brave as its default browser, it was launched with support for multiple blockchains, including BTC and ETH networks. Moreover, Sirin Labs has joined the growing line as it announced the launch of the 'world's first' blockchain smartphone named Finney in December 2018.

While the HTC Exodus can only be purchased with Bitcoin or Ethereum, the Finney can only be bought using the Sirin token.

However, Samsung, the Iphone rival and also the largest phone manufacturer may see the widest distribution of Galaxy S10 unlike its aforementioned competitors.

Samsung will also be the first major company to integrate cryptocurrency support into its flagship phone, Galaxy S10, giving it a head start over competitors and putting pressure on Silicon Valley giants like Google and Apple to develop features that target Bitcoin users.

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