Samsung Continues to Embrace Digital Currencies Author: Ali Raza Last Updated: 12 June 2020 Samsung, the South Korean tech giant, has continued its efforts to lay down a foundation for the mass adoption of cryptocurrencies. In recent news, the company had revealed its second-generation Secure Element (SE) chip, called S3FV9RR. Alongside this is a new “enhanced” software for the phones themselves. Samsung had designed this chip in order to secure the booting process on the phone, as well as enact mobile-based payments and isolated storage for its mobile users. Throwing In A Metaphorical Deadbolt Lock This new SE will come with a certification from Common Criteria (CC) EAL 6+ security standards. This security standard is the same one that’s used to protect data within Bitcoin wallets as well as e-passports. This, in turn, makes the S3FV9RR solution one of the most secure mobile solutions in the market. Samsung has taken to heralding this new brand of security chip as one that will protect the mobile payments and digital currency transactions of its users. The Senior Vice President of Samsung Electronics, Dongho Shin, gave a statement about the matter as well. In Shin’s view, this new offering from Samsung is a metaphorical deadbolt that the tech giant is mounting on smart devices, safeguarding private information. A New Era Of Wireless Interactions Shin went further, highlighting the current era the world lives in: One of contactless interactions and mobility. As such, Shin expects that the connected devices of the world, such as tablets and smartphones, need to be incredibly secure. This is in order to protect the personal data of a user and allow for fintech activities, such as stock trading, mobile banking, as well as cryptocurrency transactions. This new security chip comes shortly after the first-generation solution that Samsung had offered, the S3K250AF, which was announced in February this year. This new chip is capable of integration with any mobile device, and the solution itself operates independently from the central processor of the device itself. This latest security solution offers a hardware-based root of Trust (RoT) services in order to protect the lower layers of software when it comes to the threat of malware attacks. Teaming Up With Gemini Alongside this comes an announcement from Samsung that it will make a partnership with the Gemini crypto exchange. This will further the tech giant’s commitment to digital currencies as a whole, and will allow for users in Canada and the US to buy cryptocurrencies through their Samsung phones.