Samsung Seeks for Crypto Wallet Trademark In UK

Samsung, electronics giant of South Korea has reportedly applied for cryptocurrency wallet trademark in U.K. Intellectual Property Office.

Despite continuously denying the rumors of building next cryptocurrency wallet in their upcoming smartphone model, Samsung quoted several advancements such as “Computer software for using as a cryptocurrency wallet; Computer software for cryptocurrency transfer and payment using blockchain technology based Computer application software for smartphones in “Classes and terms” section of the application. The software would enable users to transfer digital assets based on Blockchain Technology and pay through 3rd party’s application software.”

Samsung also refuses a rumor that the company is planning to build a cryptocurrency cold wallet on its Galaxy S10 smartphone. On Dec. 10, Samsung has applied for 3 European trademarks for the cryptocurrency & blockchain related software. Apart from Samsung, other smartphones manufacturers are in the process to develop blockchain-related products. HTC has launched ‘Exodus,’ its first blockchain compatible phone with the support of multiple blockchains, including Bitcoin & Ethereum networks.

In November, SIRIN Labs (blockchain-focused electronics supplier) had launched its first blockchain integrated smartphone called FINNEY. It offers cold-storage crypto wallet with encrypted communications based on both Android and SIRIN OS (SIRIN’s open-source operating system).

Samsung Foundry in October had launched new manufacturing of its 7-nanometer (nm) Low Power Plus (7LPP) process node which can decrease the energy consumption up to 50%. As energy cost proved to be a crucial factor in the industry’s profit, therefore this chip has positive implications for crypto miners.

However, the hope of “mass adoption” of cryptocurrency comes from Samsung’s “participation.” As Samsung’s smartphone is the world’s most purchased phones with above 20% of the total market share, they hold the ability to educate the people about cryptocurrency and blockchain with a simply integrated crypto wallet in their smartphones.