x

New Samsung Galaxy S10 Includes Baked-In Storage for Private Keys

by

        New Samsung Galaxy S10 Includes Baked-In Storage for Private Keys
New Samsung Galaxy S10 Includes Baked-In Storage for Private Keys

Samsung announced on February 21, 2019, that their newest phone, the Galaxy S10, will include secure storage for its users’ cryptocurrency private keys.

The company made a press release detailing the phone’s many features, notably including Samsung’s proprietary defense platform, Samsung Knox, which will feature secure private key storage that is claims is specifically “for blockchain-enabled mobile services.”

Baked-in support for cryptocurrencies in smartphone platforms is not completely unique to the space, although this initiative by Samsung represents a major step for the technology’s integration into mainstream products. As it stands, there are currently two smartphones that support crypto assets: HTC’s Exodus 1 and Sirin Labs’ Finney.

These two phones have seen much more limited adoption than any product Samsung could release for several reasons. The Exodus 1, for example, is made by a Taiwanese computer hardware company and is currently only available for purchase through crypto transactions. Finney is at least available for purchase using fiat currency, but the company behind it has less of a proven track record of creating quality hardware products.

Samsung, on the other hand, is the largest corporation in South Korea and currently holds the 12th rank on the Fortune 500 List. A product produced by this company will have a significantly lower barrier to entry for the common consumer.

As the Galaxy S10 is yet to hit consumer shelves, the company has not gone into great detail of the technical specifications of this key storage technology. Community website SamMobile published rumors that this technology was in the making for the Galaxy S10, based on several patents that the company had recently filed. Shortly afterward, Samsung immediately refused to comment on these allegations to the press, claiming that “Unfortunately we are unable to provide any information as the below is rumour and speculation.”

Given this air of secrecy that Samsung is treating this new product with, it is unlikely that more information on the specifics of these features will be revealed before launch. Still, this device could do a great deal toward adding convenience and accessibility of crypto technology for the average user.

Recommended

So Far, Only Two Businesses in Ohio Have Used Bitcoin to Pay Taxes

According to a recent statement made by Ohio’s state treasurer, so far, only two businesses have filed their taxes in crypto using the state’s crypto tax payment scheme.

Jimmy Aki

Lightning Torch’s Bitcoin Payment Is Running a Worldwide Marathon

The experiment has been making an impression on the bitcoin community; so far, Andreas Antonopoulos has been in on it, as has Twitter co-founder Jack Dorsey who took up the flame from Matt Odell.

Colin Harper

Living on Bitcoin for a Week in San Francisco

Our reporter Colin Harper experimented with living on bitcoin for a whole week in San Francisco last month. Here is a summary of his experience.

Colin Harper

Wrap Your Head Around This: BTC Is Now Featured as a Token on Ethereum

Wrapped Bitcoin, an ERC-20 token tied 1-1 with bitcoin, is live, and it's setting big expectations for itself out the gate.

Colin Harper