Samsung is currently working on its own cryptocurrency, the Samsung Coin. According to a company executive, the South Korean manufacturer even aspires to launch its own Blockchain based on Ethereum.
Our colleagues from CoinDesk Korea had the opportunity to speak with a senior Samsung official about the "Samsung Coin" project, the cryptocurrency of the world's leading smartphone company. This is not the first time the brand is interested in virtual currencies. Samsung has also integrated a cryptocurrency wallet to its Galaxy S10. A few months earlier, the firm invested in the game CryptoKitties, which allows to buy virtual kittens with Ether.
Samsung is working on a blockchain based on Ethereum
For now, the project is still experimental, slides the source of CoinDesk Korea. "Currently, we are thinking of a private blockchain, even though it has not been confirmed internally yet. It could also be a public blockchain in the future, but I think it will be hybrid, that is, it will be a combination of public and private blockchains, "says the executive. This blockchain would in any case be based on the Ethereum, the exchange protocol that allows the transfer of Ether.
In the case of a public or hybrid blockchain, we could well find the Samsung Coin on a trading platform, such as Coinbase, eToro, Binance or Bitbai. Not surprisingly, this virtual currency could also be integrated directly into Samsung Pay, the manufacturer's mobile payment service.
"We expect the Samsung Coin to hit the market, but the direction has not been determined yet," said CoinDesk Korea. For now, the group is still hesitant to get into the arena. What do you think of this project? Samsung can it be a place in the cryptocurrency market?
