Samsung could be prepping a standalone blockchain smartphone

Recently, Samsung has been coming up with several innovations. Just a few weeks back, the company announced the Galaxy A9 (2018), the world's first smartphone with a quad-camera setup at its rear. Now, the company had filed for three trademark requests in Europe creating headlines.

As per a report by The Next Web, the company has filed for three trademark requests and all these are related to blockchain technology for smartphones. The trademarks that Samsung has filed for are "Blockchain Keystore', 'Blockchain Key Box' and 'Blockchain Core'.

Latest Samsung trademarks

These trademark requests are self-explanatory as they clearly reveal the name of the technology. Eventually, there are claims that Samsung is looking to come up with a sort of a hardware wallet that will store the public and private data keys. We can expect such wallets to be inbuilt into a future smartphone.

There are speculations that Samsung might actually build a smartphone that adheres to high security standards using the blockchain technology it has trademarked for. Bt there is no patent or document that reveal any further information regarding the same.

Notably, despite the numerous warnings from the industry experts, cryptocurrency is still of mainstream importance. Recently, there were reports that almost half a million routers around the world were reportedly hacked by cryptocurrency miners in an attempt to maximize resources for the mining purpose.

Understanding the threat that exists, it looks like Samsung is aware of the necessity to store cryptocurrency and blockchain encryption keys securely. Previously, Samsung claimed that its phones had the best security in order to store cryptocurrency. Though several industry stalwarts disagreed the claim, it looks like the company is now intending to build this functionality.

Galaxy S10 to have a secure chip

Following the report, SamMobile suggests that the company is working on a cryptocurrency service. And we can expect the same to debut with the upcoming Samsung flagship smartphone - Galaxy S10. It is believed to include a cold wallet for storing private and public keys, cryptocurrency and signing private keys for crypto transactions. There could be a secondary wallet to manage transfers, transaction history and account information.