South Korean electronics giant LG is working with blockchain developers to compete with Samsung’s blockchain phone. Anonymous sources from South Korean news outlet Chosun suggest that LG had conversations with decentralized-app developers. The company supposedly already worked out a use case for its future phone.
It would make sense for electronics companies to follow Samsung’s move. In the past few months Samsung has been investing a low in the crypto and blockchain space. Last week they announced a partnership with Korean internet giant Kakao Corp. As a result a blockchain-enhanced Samsung Galaxy Note 10 is now available for the South Korean market.
Samsung has also invested in software wallets, hardware wallets and filed for several blockchain patents. It’s not yet known whether LG will actually launch such a phone. The electronics behemoth hasn’t done any official announcement yet.
Blockchain phone still in its early stage
The concept of a blockchain-powered phone is still in its early stages. So far Samsung has implement cryptocurrency wallets and an app store for decentralized apps (dApps) into their products. The XPhone made by Pundi Labs is pushing its boundaries a lot further. This phone allows users to have conversations using a blockchain-powered network.
HTC is dipping its toes into blockchain technology with its first blockchain smartphone, and crypto startup Electroneum launched its own cheap and crypto-friendly phone for emerging markets. However, the majority of the electronics and smartphone companies are only keeping an eye on the blockchain developments… and apparently each other.
Also published on Medium.