Samsung Coin? According to a new report, it might be on its way.
The news: First, the company is working on its own blockchain. There aren’t many details, but an anonymous source “familiar with Samsung’s internal situation” told CoinDesk that the South Korean company is building its own private Ethereum-based blockchain. Once it completes this experimental project, it may even launch its own token, according to the source.
A crypto-token for its crypto-phone? The newest version of Samsung’s Galaxy S10 smartphone includes a cryptocurrency wallet, software that stores private cryptographic keys, that is compatible with Ethereum-based tokens. The Galaxy S10 will also support blockchain-based “decentralized applications” (commonly called dapps). In that light, it would not be surprising if the company intends to get into the blockchain game itself.
Yet another big player going crypto: If Samsung is really building its own blockchain and cryptocurrency, it joins a growing list of big corporations that are doing the same. So far these include Facebook, JPMorgan, Japanese messaging service Line, and Japan’s biggest bank, MUFG. And given the blockchain-focused features in its flagship Galaxy S10, which has more than 40 million users, the company seems convinced the strategy will resonate with more than just crypto-enthusiasts.
Keep up with the fast-moving and sometimes baffling world of cryptocurrencies and blockchains with our twice-weekly newsletter Chain Letter. Subscribe here. It’s free!
Why Ethereum is switching to proof of stake and how it will work
One of the world’s biggest blockchains is testing a new way to approve transactions. The move has been many years in the making but doesn’t come without risks.
Crypto millionaires are pouring money into Central America to build their own cities
A new class of crypto investors have bold plans to rebuild society from scratch. But their pet projects risk repeating the region’s long history of corporate colonialism.
It’s okay to opt out of the crypto revolution
The crypto industry is investing heavily in getting more people to buy in. That doesn't mean you have to.
Crypto is weathering a bitter storm. Some still hold on for dear life.
When a cryptocurrency’s value is theoretical, what happens if people quit believing?
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.