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Electronics Giant Samsung Files for Blockchain-Related Trademarks for Smartphones

Samsung has filed apps for three blockchain-associated trademark requests in EU for smartphones.
Based on the descriptions given by the organization, the three European trademark requests associated providing cryptocurrency custody services on smartphones, which implies that Samsung is planning to make its access into the ‘blockchain mobile phone’ market following the latest release of HTC’s Exodus 1 and Sirin Labs’ FINNEY, each of which also provide crypto custody.
Dutch tech news blog Galaxy Club reports that the 3 requested patents are known as ‘Blockchain KeyStore‘, ‘Blockchain Core‘ and ‘Blockchain key box‘ – names that absolutely trace at the direction the world’s largest mobile phone maker is taking. The timing of the news once more emphasizes the fact that in spite of the well-documented woes of the cryptocurrency market this year, a number of influential corporations like Samsung and HTC consider that cryptocurrencies and blockchain technology could be key growth drivers going forward, and are investing as a consequence.

Samsung making a bet on Crypto?
Mentioning an unnamed source in its document, Galaxy club states that Samsung is planning to launch more facts about its interest in building various smartphones with professional cryptocurrency and blockchain capability as part of the corporation’s ongoing mini crypto pivot.
According to a Senior IT consultant, Joel Snyder, a contributor to Samsung Insights posted a paper disclosing that for the reason of crypto storage, mobile phones provide extensive safety benefits over laptops and different gadgets due to the existence of TEE (Trusted Execution Environment) which segregates implementation from inner memory, making it close to impossible for hackers to steal information which includes crypto wallet non-public keys.
Also, Samsung can be playing on the adoption of cryptocurrencies as the next massive customer evolution with the intention to force income of its smartphones. Certainly, the descriptions supplied within the trademark request directly allude to its purpose to construct blockchain related solutions for mobile devices. For now, it is anonymous whether or not Samsung proposes to offer these services on any of its upcoming models consisting of the Galaxy S10 which is about to announce very soon.
The trademark requests deliver up a busy year of cryptocurrency-related activities for the South Korean conglomerate, which has no longer been eliminating by means of the tough 12months for buyers. In September, it’s been reported that Samsung signed an agreement with Canadian bitcoin mining enterprise Squire to layout and manufacture new ASIC chips for their actions which could permit them to contend towards Bitmain’s Antminer series.
Source link:- https://xnews.io/electronics-giant-samsung-files-for-blockchain-related-trademarks-for-smartphones/
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