The electronics giant Samsung is in our latest crypto news for filing numerous applications for blockchain-related trademark requests for smartphones. As the descriptions provided by the company noted, the three European trademark requests are based on providing crypto custody services on smartphones.
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From this, we can easily conclude that Samsung may be planning to make its entry into the ‘blockchain smartphone’ market and follow HTC with its recent release named the Exodus 1 and Sirin Labs and its FINNEY smartphone, both of which are offering crypto custody.
As the Dutch tech news blog Galaxy Club first reported, the three requested patents that Samsung applied for are named ‘Blockchain KeyStore‘, ‘Blockchain key box‘ and ‘Blockchain Core‘ – all of which hinting at the direction in which the world’s largest smartphone maker is taking.
The timing of this news, on the other hand, underlines the fact that despite the market’s downward trend in 2018, there are still some tech giants like Samsung and HTC entering the space and believing that cryptocurrencies and blockchain will be the key growth drivers going forward – and the investments are in line with this.
Galaxy Club also cited an unnamed source in its report where it claims that Samsung is planning to release more information about its interest in developing a range of smartphones with specialist crypto and blockchain functionalities as part of this new strategy. If this turns out to be true, Samsung may be gambling on the adoption of cryptocurrencies as the next big user revolution that will drive sales of its smartphones.
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