Samsung smartphone and tablet users have been able to use one of the many available wallet apps from the Google play store for a long time now. But a true crypto wallet solution from a major phone manufacturer has yet to be seen. As online and brick & mortar retailers begin to evaluate and accept various crypto currencies as payment how will these mobile manufacturers adapt? Perhaps we have an example forming right now.
Samsung has developed a blockchain wallet available for all galaxy devices using their Knox security platform. The wallet is reported to support Bitcoin, Ethereum, ERC tokens, Tron (TRX), and TRC tokens (no word yet on Dogecoin). Samsung will also be providing a consisent user experience which not only supports hardware wallets but claims to keep the user informed about crypto trends with integrated news. No word from Apple as their crypto wallet support remains in the realm of fan concept art.
With Samsung getting into the crypto space on its Galaxy devices does this herald another stage in broader crypto adoption? Surely with the popularity of Bitcoin and Ethereum combined with DogeCoin’s rise and stint in the media thanks to Elon, a move like this from Samsung can only be seen as further legitimizing crypto as real currency for the mainstream.
Smartphone users have had amble time to get used to contactless payments as well as bankless transactions such as Venmo and PayPal. Another slight nudge into wallets and crypto currency will seem like a natural step to many. Indeed, outside the US more countries are exploring and test launching their own digital currencies, called CBDC (Central Bank Digital Currency).
The prudent investor is always looking ahead whether short term or long term. This move by Samsung is your notice, you have less time to prepare than you think. Soon after other manufacturers will follow and it will be best to position yourself accordingly to not get left behind. We might ask, where will you be when no one wants to transact in your home currency? Hopefully, diversified in several of the most accepted cryptos and using a wallet accepted by your local grocery store!
Samsung press release
https://news.samsung.com/global/samsung-makes-it-easier-to-use-blockchain-on-galaxy-devices-with-support-for-hardware-wallets
Samsung blockchain technology
https://www.samsung.com/global/galaxy/apps/samsung-blockchain/
Apple wallet – fan concept art (fan fiction?)
https://9to5mac.com/2021/02/19/apple-hardware-crypto-wallet-concept/
Crypto on Venmo
https://venmo.com/about/crypto/
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