Samsung to add its Digital Wallet Apps to low-cost models

Samsung has plans to extend blockchain and cryptocurrency features to more phones across its range of Galaxy smartphones.

According to a press release on Tuesday, the electronics giant said that its digital wallet app would be available on its range of low-cost models. Further, it said that it would expand crypto features to more jurisdictions.

The senior managing director of the product strategy team at Samsung Electronics’ wireless business division, Chae Won-Cheol, said:

“We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions. We will also expand our service target countries after Korea, the United States and Canada.”

Samsung’s digital wallet app is only available on Samsung’s Galaxy S10 phone range. The phone comes with blockchain features like digital signing, and decentralized apps (DApps) may also be added across the Galaxy range.

Samsung is reportedly also in talks with telecom firms like SK Telecom and KT Corporation about the possibility of working together on blockchain-based digital identity verification tools and other initiatives.

Samsung has been wading deeper into the blockchain waters in recent months.

Furthermore, Samsung said that it will be developing its own blockchain network based on Ethereum, and may also issue a “Samsung Coin” token in the future. The company also has plans of adding blockchain technology to its enterprise IT solution packages.

Earlier in April, Samsung also invested around $3 million in cryptocurrency wallet startup, Ledger.

This article was originally sourced from Coindesk.

Want to share your thoughts on this?