Samsung Coin?

Headlines were made globally when earlier this year news started to spread of a Facebook stablecoin. Now it is being rumoured a new major player is entering the market, Samsung.

CoinDesk Korea is reporting that a person “familiar with Samsung’s internal situation,” has stated that the company’s blockchain task force, which is part of its wireless division, is building a blockchain mainnet based on Ethereum. It is alleged that the work is still at the “internal experimental” stage.

The source stated that:

“Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.”

The source also states that Samsung may move to launch a “Samsung Coin.”

They said:

“The market expects Samsung Coin to come out, but the direction has not yet been decided.”

There a great opportunities for the coin to be traded on crypto exchanges and also have fantastic integration with Samsung Pay, although these features have not yet been decided.

The report states their blockchain taskforce has been actively delveloping for over a year on a range of projects.

Two months ago Samsung entered the blockchain arena publicly with the unveiling of their flagship phone, the Galaxy S10, which can store private keys and supports other features such as blockchain based digital signatures. In March they officially released their crypto wallet which is compatible with ETH and ERC20 tokens but strangely enough not bitcoin.

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