Samsung formally unveiled its latest sleeve of smartphone devices yesterday, on February 20th. Perhaps the most anticipated ones were the Samsung Galaxy S10 and the Samsung Galaxy S10 Plus, but Samsung also revealed a lower-priced Samsung Galaxy S10e and even a foldable device, set to be released this April.
Hardware support for private keys storage
However, whereas the general public will swoon over the S10s’ new cameras, ”O Infinity” displays or ultrasonic in-screen fingerprint sensors, the cryptocurrency community will likely be more intrigued by confirmed hardware support for private cryptocurrency key storage.
This feature now comes as a native part of Samsung’s ”One UI” and is integrated with Samsung’s ”defense-grade” Samsung Knox security software. Furthermore, the dedicated secure storage function is also reportedly supported by secure hardware.
”Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”
Although details about this integration with Samsung’s Knox software is still somewhat scarce, this news does not come out of nowhere. Specifically, rumors have been circulating since late last year that Samsung is in fact working on a native cryptocurrency wallet.
No word yet on whether Samsung will launch a native cryptocurrency wallet
This has not been confirmed as of yet, however, the news that Samsung Galaxy S10 will ship with support for private cryptocurrency key storage certainly lends some credence to the notion that this functionality will come in the future.
Moreover, industry speculators have already commented on the Samsung Galaxy S10’s processor chip – an Exynos 9820 chip – as being the ”ideal choice” for a device potentially featuring a native cryptocurrency wallet.
Nevertheless, although whether Samsung will launch a dedicated cryptocurrency wallet remains uncertain, the inclusion of secure private keys storage for blockchain applications is still an important step.
It should be noted, however, that Samsung is far from the first smartphone manufacturer to launch a phone with built-in cryptocurrency support. HTC has previously marketed its Exodus 1 as a blockchain phone built ”for this new internet” and the cryptocurrency startup Sirin Labs has previously showcased the Finney – which features a full-size hardware wallet.
Be that as it may, the Samsung Galaxy S10 will likely make the biggest splash yet, simply due to being a mass-market phone. It remains to be seen exactly how this Knox functionality will be used, but Samsung’s inclusion of it is yet another stamp of legitimacy to the cryptocurrency industry.
Rasmus Pihl is a writer for Toshi Times by day and an avid follower of the blockchain industry by night. Rasmus holds a Bachelor’s Degree in Marketing from the Gothenburg School of Business, Economics, and Law and runs a Swedish marketing consulting firm. Moreover, when he isn’t writing for Toshi Times, traveling, working or changing the world in some other capacity, Rasmus is more than likely caught up in postgraduate studies.