T Store, a mobile application marketplace operated by SKT, the largest telecommunications giant in South Korea, officially Samsung Keystore and the revolutionary native crypto on the Galaxy S10.
The photograph of the of the Samsung Keystore and crypto released by T Store showed a section called “ Transfers” under the platform’s , featuring ERC20 like Basic Attention (BAT) and Enjin Coin.
Photograph of Samsung Keystore Released by T Store Featuring an and ERC20 Wallet | Source: Tworld.co.kr
Following the of the Galaxy S10 in San Francisco, local publications in South Korea reported that Samsung is expected to integrate a full ERC20 support into its crypto .
Samsung’s Crypto Platform Will Feature Robust Ethereum Wallet
On February 22, immediately after the official introduction of the Galaxy S10 and Fold by Samsung Electronics, Hankyoreh, a mainstream media outlet in South Korea, reported that the company is likely to feature an ERC20-compatible system alongside more conventional assets like – and itself.
“Based on the fact that the Samsung Keystore tutorial features , , and an add new button, it is likely that Samsung will allow users to directly add ERC20 onto the native crypto ,” the publication .
The ERC20 standard is a set of rules an contract has to implement to launch a on top of the network.
For a project or , being fully compliant with the ERC20 standard increases its accessibility, as users can utilize the with the same infrastructure that supports .
Samsung is said to have integrated a full ERC20 because it believes the potential of technology exceeds the realm of payments.
In the Samsung Keystore tutorial, the company said that technology can be used in a variety of sectors including insurance, banking, and e-commerce.
The company does not see the as a technology solely for payments; rather, Samsung considers the as a decentralized data processing network that eventually will open up to a wide range of applications.
The official Keystore tutorial read:
“The is a new method that enables every user to and process data in a decentralized ecosystem, and it is used in many areas. [Such areas include] secure distribution information confirmation, insurance and contract verification, copyrights management, content distribution, game items storage, crypto assets storage, and transactions.”
Here is a first look at the Keystore on the Galaxy S10. | Source: Hankyoreh/CoindeskKorea
Based on the forward-thinking approach of Samsung in implementing and support, industry executives in the sector of South Korea foresee the company engaging with crypto more aggressively in the long-term.
Previously, an industry executive that Samsung has been playing down its integration because a relatively large portion of the mainstream user base of mobile phones is resistant to terms like “” and “.”
Still, as the awareness of continues to grow, one analyst stated that the impact Samsung’s crypto integration could have on the asset class is much bigger than others like the highly anticipated overseen by ICE, the parent company of the New York Stock Exchange.
The analyst :
“Twitter has 326 million active monthly users. Samsung shipped 70 million units In Q4 2018 alone. Tippin.me and the new Galaxy smartphones will do more for than Bakkt and all the ’s in the pipeline combined.”
Will Samsung Pay Help Power bitcoin Adoption?
Reports have indicated that will be integrated into Samsung Pay, but the company has not yet confirmed this game-changing feature. | Source: Justin Sullivan / Getty Images / AFP.
Earlier this month, several local publications reported that Samsung Pay, the company’s flagship digital payments app, in the integration of the Galaxy S10’s native .
So far, there are no reports on the connection of the Galaxy S10’s Keystore and Samsung Pay, making the direct integration of and other digital assets on the widely utilized payment application highly unlikely – for now.
Samsung Galaxy S10 Image from REUTERS / Henry Nicholls
Published at Mon, 25 Feb 2019 16:06:03 +0000
