Blockchain

Samsung to add blockchain solutions to budget Galaxy models

May 14, 2019, 10:56AM EDT

Korean giant Samsung Electronics has announced plans to add blockchain solutions to more budget-friendly Galaxy models, Business Korea writes. The company launched its Galaxy S10 smartphone in March which offers cryptocurrency wallet and Dapps; now it’s planning to expand them to budget Galaxy phones in an attempt to draw more people to blockchain technology.

"We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions," said Chae Won-cheol, senior managing director of the Product Strategy Team at Samsung Electronics' Wireless Business Division. The company will also expand its target countries beyond Korea, the United States and Canada, he said.

The company is also planning to add new blockchain functionalities to further augment security. For instance, Samsung will develop blockchain-based identification, Chae said. It has teamed up with SK Telecom and KT Corporation to create new solutions for digital identity authentication as well as local currency sectors.