Samsung Starts a New Blockchain-based Project

Last Modified:11 May 2019 06:52:47
Samsung Starts a New Blockchain-based Project

The reputable company Samsung is among advocates of supporting and applying the space of Blockchain and cryptocurrencies in developing its affairs. This company intends to launch its own unique Blockchain and in the way to continue its activities, offer a unique token to the market. Of course, developing this network and applying Ethereum is still in its trial and analysis process. In fact, there is still a long way for the company to reach the ultimate point of a Blockchain project and its market and different elements should be taken into account.

Samsung and Applying Blockchain

According to the news and the hearsay, Samsung will take measure in developing and supplying its unique coins after the full launch of the Blockchain system. Generally, developing and launching Blockchain networks are public, private or a combination of both. If Samsung launches a public network and develops its unique coin, it will not be possible to trade this coin like other digital currencies in the market.

If Samsung is attracted to Blockchain and develops its different projects in its infrastructure, the possibility for this technology to be employed in payment systems will sharply increase. Of course, according to sources, the company does not intend to enter the field of payment currently, but its entrance is highly probable in the near future.

Samsung’s Measures in Applying Blockchain

Samsun has so far been among the companies which had goodwill toward cryptocurrencies and the world of Blockchain. For instance, a few months before, it unveiled the Galaxy S10 cellphone for the market with the feature of storing cryptocurrencies’ private keys. The other activity of this company in the field of cryptocurrencies has been offering a digital wallet with the provision of doing and accepting transactions with Ethereum. The last version of Samsung cellphone (Galaxy s10) has other features such as the possibility of using Blockchain-based applications. The others are the games which are available through the Blockchain system and paying via cryptocurrencies.

Blockchain’s Future at Samsung

The cryptocurrencies are seriously penetrating the world of cryptocurrency payments and social networks. It is obvious that smart companies and brands which notice it and supervise the market well, are aware of the need to be along with new elements and forms of the market. Samsung brand which has been active as one of the best Asian and global brands in years surely knows about various capacities of the world of cryptocurrencies, so it is considered as a pioneer in supporting them.

There are not just payment systems and related applications which are influenced by cryptocurrencies and Blockchain, the form and structure of social networks will soon be consistent with new changes, and we will likely not face centralized social networks such as Facebook. Samsung has taken its first influential steps in keeping pace with cryptocurrencies and Blockchain knowing this atmosphere and predicting the future.