Sirin Labs opts for Foxconn to make FINNEY crypto ‘phone

iPhone supplier Foxconn is to partner with Sirin Labs to make its new FINNEY crypto ‘phone, the company tweeted earlier. Sirin Labs said the new blockchain ‘phone will integrate several kinds of digital tokens – a step forward as some transactions are complex. Shipping begins in October.

Sirin’s FINNEY endeavours to take care of owner assets

Tech to combat security issues?

Oxgadgets reported that FINNEY will come with a slider so users can “slide up the backplane of the phone to access the secure display separately”.

This can be used to make transactions “as security concerns remain high”.

The new device will sell for $1,000 – the price is confirmed. The phone will be supported by a Snapdragon 845 processor and come with a standard-spec 6GB of RAM.

Sirin’s operating system will be offered on the Finney, a beefed up version of Android 8.1.

$1,000 versus $14,000

Previously Sirin Labs released its Solarin crypto ‘phone though it was super-expensive at launch (more than $14,000) in 2016.

“We were wondering what prevents crypto-currencies from hitting the mass market, and we identified two main problems,” Nimrod May, chief marketing officer at Sirin Labs, told ZDNet this summer.

“One is around security: for the first time in history, users need to take care of their own assets, without the ability to approach a central organisation like a bank.”

Superior crypto experience promised, claims Sirin Labs

Tech too complex

The other issue was the user crypto experience: “We [crypto enthusiasts] manage to obtain our cryptos, we know where to trade them, we understand the technology behind it — but it’s still something that’s considered complicated for the average user”.

Sirin says FINNEY features a physical toggle “that will immediately turn off all unencrypted communications”. The crypto wallet inside will be offline “unless intentionally activated, functioning as a ‘cold wallet’”.