Blockchain Enabled Smartphone To Be Availed In Bangladesh

Blockchain Enabled Smartphone To Be Availed In Bangladesh

Blockchain technology is becoming more popular and smartphone manufacturers are beginning to implement the technology in their devices.

This year, a number of blockchain and crypto supportive smartphones have been released.

One of the first blockchain smartphones, Finney, will now be made available in Bangladesh.

A report from The Daily Star in Bangladesh states that the Bangladesh Telecommunication Regulatory Commission approved the use of Finney in its jurisdiction. The phone will be available to Bangladeshi users from October.

Blockchain smartphones growing in number and expanding their reach

The number of blockchain and crypto enabled smartphones on the market has risen in 2019 as big-name brands enter the fray.

The Samsung S10, which was released early this year, comes with support for a crypto wallet. Users of this smartphone are able to make use of the secure wallet to keep their crypto holdings, and they can also buy cryptocurrencies with ease.

Last week, Samsung released a blockchain enabled variant of the Galaxy Note 10 in its South Korean market. The device in collaboration with Group X and it runs on the Klaytn blockchain.

The device has support for 34 cryptocurrencies and 17 decentralized applications (dApps). The phone is available in both the sizes of the Galaxy Note 10 and runs on essentially the same hardware as the original device.

Finney was developed by Sirin Labs, a Switzerland based technology firm. Sirin Labs had one of the most successful initial coin offerings (ICO) of 2017, acquiring a total of $157.8 million.

The device developed by Sirin Labs comes with cold wallet storage for cryptocurrency, support for several decentralized applications, and a system for secure communications.

Moshe Hogeg, CEO and co-founder of Sirin Labs, said that the Finney brings a variety of blockchain and crypto function on under one device.

The device combines a ledger, crypto wallet, and exchange software on the same device, functions which previously required different devices and software. This device will boost online crypto trading in Bangladesh by bringing all the requirements into the hands of prospective traders.

The opening up of the Bangladeshi market to the Finney will propel the adoption of blockchain enabled smartphones.

The reach of these devices is expanding one market at a time and it can be expected that they will be available worldwide soon. Samsung has plans to implement its blockchain and crypto functions on their low end devices in another move that would expand the reach of blockchain powered smartphones.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.