The internet was set ablaze when rumors began circulating that Samsung’s flagship smartphone, the Galaxy S10, may potentially support cryptocurrencies like Bitcoin and Ethereum via a Blockchain Keystore application.
Samsung’s reveal event confirmed the existence of the Blockchain Keystore app that serves as a crypto wallet for top cryptocurrencies, however, the most important cryptocurrency of all won’t be supported at launch, according to initial reports from unboxing videos from around the web.
Samsung Blockchain Keystore Neglects Bitcoin, Ethereum Support Ready at Launch
The Samsung Galaxy S10 doesn’t officially drop for two more days on March 8, 2019, but some lucky smartphone enthusiasts have already gotten their hands on the final retail version of Samsung’s latest flagship smartphone. Those with early access to the Galaxy S10 have uploaded unboxing videos to demonstrate the phone’s key features – one of which is a new crypto wallet called Blockchain Keystore.
Related Reading | Samsung Galaxy S10 Could Expose Crypto to Millions of Tech Savvy Users
One particular video demonstration reveals that the Samsung Galaxy S10 will launch without supporting Bitcoin, the leading cryptocurrency by market cap and undoubtedly the most important asset in the crypto space. The app, however, does support Ethereum out of the box.
It’s not known at this time if ERC-20 tokens are further supported using the Ethereum wallet address. Many other crypto wallets prioritize Ethereum due to the same wallet address being used to receive Ether (ETH) in addition to a variety of ERC-20 tokens such as Basic Attention Token (BAT), 0x (ZRX), Maker (MKR), and hundreds more.
However, the absence of Bitcoin is a glaring omission, as Bitcoin has the highest market cap out of any cryptocurrencies, has the most regulatory support, and the highest transaction volume. It’s also the face of cryptocurrency in the public’s eye.
Bitcoin may eventually make its way onto the Samsung Galaxy S10’s Blockchain Keystore app via updates, and it may happen sooner than later. It’s not uncommon for smartphone manufacturers to debut their products on the same day a major software update is released. However, given the limited interest in cryptocurrencies by the general public, Samsung may not view further developing the app as a priority.
Are Blockchain And Crypto Wallets The Next Big Trend in Smartphones?
Blockchain-based smartphones that come equipped with a built-in cryptocurrency wallet is a growing trend in the space, as smartphone manufacturers seek to find a differentiating selling point amongst the sea of similarly functioning smartphones.
Related Reading | Crypto Firm Pundi X Introduces Blockchain-Powered XPhone
In addition to the Samsung flagship, the HTC Exodus has blockchain-based features that are separated from the Android operating system, while the newcomer Sirin Labs has recently released the blockchain-based FINNY smartphone, and Pundi X is preparing the XPhone for a Q2 2019 launch. It’s expected that as cryptocurrency adoption grows, other companies will follow suit, including Apple who has dominated the smartphone market since its inception.
Featured Image from Shutterstock