In an exciting turn of events, mobile communications giant, Samsung is now reportedly looking to include a cryptocurrency wallet in their latest Galaxy S10 models. The Korea Herald reported the integration of a cryptocurrency digital wallet in the Galaxy S10 series a month before the official release of the Samsung Blockchain Wallet on the 21st of February.
Samsung’s tryst with blockchain and cryptocurrency have been the talk of the town for quite a while. There have been rife predictions and speculations about the much-hyped integration between the media giant and the world of cryptocurrency and the impact it will have.
The Spread of Crypto Digitization
Samsung, through its crypto-integrated Samsung Pay, hopes to create a lasting impact on its consumers worldwide. According to Shin Donga, South Korea’s leading media outlet, Samsung Pay is hoping to use cryptocurrency to grow its user base on a global level. Industry experts have interpreted the move as Samsung’s way of expanding the brand’s reach towards its user and strengthening Samsung Pay as a financial tech platform.
The brand has set up an international payment service explicitly targeted for worldwide consumers also prolonging their transaction period. As of now, the Samsung Blockchain Wallet supports Ethereum. The company plans on further inclusion of other cryptocurrencies in the near future.
Shin Donga reports that the consumerism strength of Samsung Pay has increased by 58 percent in 2018 which has led to a surplus of 6.6 million users. The brand also recorded $18 billion in transaction volume by Samsung Pay. Experts and analysts presume given Samsung’s strategic approach towards its products and market digitization, Samsung Pay could be the new “it” factor in the cryptocurrency sphere.
The integration of cryptocurrency in Samsung phones would lead to massive growth and an increased reception towards the popularization of cryptocurrency wallet systems in the whole of Asia.
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