Two South Korean giants are collaborating on a blockchain mobile product. Electronics giant Samsung is making a variant of its Galaxy Note 10. The phone support Kakao Corp’s Klaytn blockchain from the start. The phone comes with a cryptocurrency wallet and several pre-installed blockchain apps. According to The Wall Street Journal the phone should launch today.
This alternative version of the Galaxy Note 10 is dubbed KlaytnPhone. The phone’s name comes from Kakao’s blockchain platform Klaytn. Supposedly the logo of the blockchain platform will show while booting or shutting down the phone.
The newspaper believes the phone will sell for roughly $1000. Consumers who buy this phone will automatically receive Klay tokens. These tokens are part of the Klaytn blockchain. However, the phone is supposedly only launching in South Korea.
Samsung & Kakao both making big steps into blockchain
Both Samsung and Kakao Corp are actively embracing blockchain technology and cryptocurrencies. For example Kakao is launching its own blockchain called Klaytn. Kakao Talk and other services will use the blockchain. This is interesting because Kakao Talk has a 96 percent penetration rate in South Korea. App users get access to a cryptocurrency wallet, while several decentralized apps will launch on the Klaytn blockchain as well.
Samsung launched the Samsung Galaxy S10 late last year. It was their first flagship phone that supports cryptocurrencies straight from the box. In 2019 more coins were added, including bitcoin. The company has invested in software wallets, hardware wallets, and filed patents for several blockchain-powered ideas.
The electronics company also wants to build its own blockchain. This concept is based on Ethereum. It would allows third parties to launch their own tokens on the network. For example, a game developer can easily deploy and token system without the need to launch an entire blockchain.
Also published on Medium.