Samsung to add cryptocurrency wallet to their smartphones. Now, for real.

December 30, 2018
Chris Wheal

South Korean electronics giant has filed a trademark application for a cryptocurrency wallet in the United Kingdom, according to the filing with the U.K. Intellectual Property Office.

According to the filing’s language, Samsung is launching the following developments:

  •      Computer software for use as a cryptocurrency wallet;
  •      Computer software for cryptocurrency transfer and payment using blockchain technology;
  •      Computer application software for smartphones, namely, software to allow users to transfer cryptocurrency based on blockchain technology and pay via a third party’s application software.

Notably, this application has just confirmed the long-term rumors of Samsung’s entering into the crypto market, with the cryptocurrency wallet introduced on their brand new Galaxy S10. The filing in the U.K. is following the previous filings in the European Union for blockchain and cryptocurrency-related software, announced earlier this month, on December 10th. Samsung has not announced the details of the developments publicly yet, which is a typical strategy for global corporations involved in patent applications.

The forthcoming cryptocurrency wallet is not the only crypto-related development the electronics giant is currently proud of. Earlier this year, in October, Samsung launched production of the new energy efficient chips that reduce the energy consumption by 50 percent and would benefit the crypto miners using Samsung software. Such a huge energy cost saving will most likely have impact on the whole crypto mining industry, experts say.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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