Samsung Electronics is releasing a new edition of its Galaxy Note 10 smartphone that will come with a pre-installed cryptocurrency wallet in its bid to boost adoption of blockchain tech.
According to a Wall Street Journal article on Thursday, the new product is a variant of Samsung’s flagship product Galaxy Note 10 but marketed as a “KlaytnPhone,” named after a blockchain network developed by messaging giant Kakao.
To be sold on Thursday only in South Korea, the new edition’s hardware specification will not differ from existing Galaxy Note 10, but will come with blockchain apps and a crypto wallet, the report said. Buyers of KlaytnPhones will also obtain a certain amount of the Klaytn blockchain’s native cryptocurrency Klay.
While blockchain apps on the Klaytn network are now available for non-Samsung phones via Google’s Android system, only the Klaytn edition will support full-scale transactions on the Klaytn network.
The KlaytnPhone is another step taken by Samsung to widen its efforts on boosting cryptocurrency adoption. According to the report, Samsung has joined Ground X to launch the edition, a firm set up by Kakao to develop the Klaytn network.
While the Klaytn network has been live since June this year, its native crypto Klay has not yet been listed on exchanges for trading.
Samsung first revealed a crypto-friendly flagship smartphone in March this year, the Galaxy S10, which comes with digital wallets that support cryptocurrencies like ether (ETH) and ethereum-based ERC-20 tokens.
Rival manufacturers of blockchain smartphones, Samsung and Pundi X, appear to see the benefits of working together on crypto adoption.
Announced by Pundi X in a blog post on Monday, the firms have entered a symbiotic relationship regarding their wallet tech, with Pundi X integrating with Samsung’s Blockchain Wallet and making its XWallet available to the Galaxy S10 phone’s blockchain app options.
“This presents a unique opportunity to push blockchain technology and blockchain-based digital assets into the mainstream, reaching the millions of Samsung smartphone users around the world,” firm says in the post.
Pundi X claims the news makes it the first fintech app in the S10’s blockchain ecosystem.
S10 users adding XWallet to the Samsung Blockchain Wallet will be able to move cryptocurrencies between the two apps. Pundi X suggests that users can use Samsung’s wallet to store cryptos securely, “like a savings account,” and moving them to the XWallet “checking account” for use in payments.
Pundi X added that, with XWallet recently becoming available via XPOS – the firm’s blockchain point-of-sale device – more payment options will be on offer for S10 users as a result. XWallet is also connected with XPASS, Pundi X’s NFC-enabled crypto payment card product.
The firm said:
“The XWallet’s integration with the Samsung Blockchain Wallet thus makes Pundi X payment ecosystem available to a much wider audience, allowing the Samsung Galaxy smartphone users to not only store their ETH securely but also transfer to XWallet and spend it in a variety of shops, opening their doors to the new generation and their preferred cryptocurrencies.”
Samsung launched its S10 flagship phone back in March, revealing a bold blockchain play that saw it offer the crypto wallet alongside decentralized apps (dapps), merchant payments and other features such as blockchain signing.
Details of Pundi X’s device were aired at the Mobile World Congress conference in Barcelona in February and a launch is expected later this year. The prototype XPhone is said to be able to make callsover a blockchain.