Is Samsung preparing to release a blockchain smartphone?

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The South Korean electronics giant Samsung has applied for three patents in the European Union for technologies related to blockchain and smartphones.

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Based on the descriptions provided by the company, three European trademark requests concern the provision of cryptographic services on smartphones, indicating that Samsung may be planning to enter the "blockchain smartphone" market after the recent release of HTC Exodus 1 and FINNEY from Sirin Labs, both of which also offer cryptographic protection.

The Dutch technical news blog Galaxy Club reports that the three patents requested are called "Blockchain KeyStore", "Blockchain key box" and "Blockchain Core" - names that clearly hint at the direction of activity chosen by the world's largest smartphone manufacturer. The news release time once again highlights the fact that, despite the well-known problems of the crypto market in 2018, a number of influential companies such as Samsung and HTC believe that cryptocurrencies and blockchain technology will be key growth factors in the future and these companies, respectively, will invest in them.

Samsung is betting on Crypto?

Referring to an unnamed source in its report, Galaxy Club claims that Samsung plans to release additional information about its interest in developing a line of smartphones with specialized cryptocurrency and blockchain functionality within its own company.

In July, Joel Snyder, a senior IT consultant, an employee of Samsung Insights, published a paper that reads:

For cryptocurrency storage, smartphones offer significant security advantages over laptops and other devices due to the existence of Trusted Execution Environment (TEE), a technology that isolates the execution of functions from internal memory, making devices virtually immune to hackers and data theft, such as crypto-wallet private keys.

In this regard, Samsung may be inclined to adopt cryptocurrency as the next big step towards custom development of its own services, in order to stimulate sales of its smartphones. Indeed, the descriptions provided in the patent request directly hint at the company's intention to create blockchain-related solutions for mobile devices. At the moment, it is unknown whether Samsung intends to offer these services in all future smartphone models, such as the Galaxy S10, which will be released soon.

Patent requests reflect a busy year of cryptocurrency-related activity for the South Korean conglomerate, which has also proven to be a difficult year for crypto-investors. In September, Samsung signed an agreement with Squire, a canadian company specializing in bitcoin mining, to develop and manufacture new chips for ASICs that would allow the company to compete with the Antminer series of devices from Bitmain.

Link to the source of information (Russian)  - https://altstake.io/news/samsung-gotovitsya-kvypusku-blokcheyn-smartfona