New phones come and go, and phone makers tend to set certain trends that they feel will “resonate” with the customer base, not to mention lure clients away from the competition. The past few years the more important selling points were size, battery life and of course the cameras. Let’s face it, the resolution and zoom and depth capabilities of smartphone cameras is amazing.
But, after weeks of rumors and speculation, Samsung has chosen a new feature to not only to be added to the new Galaxy S10 but put it center stage; the built-in crypto wallet. Interesting move? Trendsetter? Or are they merely trying to appeal to the domestic – crypto savvy – Korean market?
There are already many apps that let you store tokens and coins on your phone, but Samsung is now offering a cold storage feature on their new Galaxy 10S. That means coins and tokens are not connected to the internet, although your phone obviously is. Apart from this wallet, the new phone will also enable contactless crypto payments. Samsung already has plans to add more tokens, but will start with Bitcoins, Ethereums and Cosmo tokens. Links with gaming related tokens looks very much likely, with Enjin being the first likely candidate. Additionally, the phone is supporting decentralized apps, called Dapps. It looks very much so that Samsung is setting a new standard in the market, and one that others will have to follow.
Whatever you may think of this step, one thing is sure: millions of users all around the globe will now have the ability to cold store their own crypto currencies. No doubt this will further fuel the use of cryptos, if not boost mass adoption of digital assets. That Samsung is serious about it, is reflected in the first shipping batch; a whopping 70 million units.
Needless to say, security is now becoming even more important. The new Galaxy S10 comes with a built-in defence system, aptly called Samsung Knox, as a tongue in cheek reference to the famous US gold depository Fort Know.
Like so often technical advancements are a game of playing tag. With this phone Samsung has tagged the retailers, and it is up to them now in making their services available to contactless crypto payments. We believe Samsung has made a bold but very smart move by making a phone for storing non long term crypto holdings, that also can make contactless crypto payments.