Samsung has been interested in crypto-currencies and blockchain for several years. On its latest generation of Galaxy S10, the Korean manufacturer has even integrated a portfolio to store its cryptocurrencies.
Towards Hybrid Blockchain
According to a local source, Samsung would like to go much further. They are currently working on a blockchain and an electronic currency. In an exclusive interview with colleagues at CoinDesk Korea, a senior said a dedicated team has been working for more than a year on a blockchain project based on Ethereum.
For the time being, the project is under developing stage, and the source says it does not know if it will be a private blockchain or a public blockchain. It does not exclude the possibility of eventually having a “hybrid” blockchain which is a combination of two.
Samsung Coin On The Way
Once it is functional, the company could formalize the Samsung Coin. The source says: “We expect Samsung Coin to come out in the market, but the direction has not yet been decided.“
If Samsung went on a public blockchain, the Samsung Coin could arrive on traditional cryptocurrency trading platforms where Bitcoin or Ether are already trading. Eventually, blockchain technology could also be integrated into its mobile payment application, Samsung Pay.