Leading tech company Samsung is said to be developing an network with plans to issue its digital down the line, Coindesk Korea April 23, 2019.
Samsung Coin Could Be a Reality
Citing a person “familiar with Samsung’s internal situation,” Coindesk Korea reported that the tech giant’s task force is developing a mainnet based along the lines of the network.
The source, however, added that the ambitious project is still pretty much in its “internal experimental” stage.
The source told Coindesk:
“Currently, we are thinking of private , though it is not yet confirmed. It could also be public in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.”
The report adds that once Samsung develops its mainnet, it might consider rolling out a “Samsung Coin” digital . However, the utility of this is still said to be amoebic at best.
The source confirmed this saying:
“The market expects Samsung Coin to come out, but the direction has not yet been decided.”
This development comes two months after it to light that Samsung’s flagship Galaxy S10 smartphone would allow users to privacy keys and also introduce support for -based decentralized applications ().
The unveiling finally put to rest that had been running rife on the internet regarding Galaxy S10’s speculated support for digital currencies.
Notably, Galaxy S10 also supports some of the most widely-used applications to date, including crypto collectibles platform , and gaming platform Enjin.
Samsung’s interest in technology is no secret. The South Korean company has several related patents to date and consistently ranks among the companies with the highest number of -related patents.
The firm’s information technology arm, Samsung SDS recently the launch of its Nexledger Accelerator, a solution that it claims can significantly boost transactions speed on networks.
Corporate Coins Raise Questions
Lately, the trend of launching native digital currencies seems to have picked up steam.
BTCManager on February 14, 2019, how U.S.-based banking giant JP Morgan announced its plans to launch a dollar-pegged stablecoin JPMCoin. Similarly, the blue and white social media giant Facebook’s iteration of a digital is also to be due within the next six months.
However, this flood of corporate-backed digital has concerns among the orthodox cypherpunks who are typically apprehensive of anything that has to do with giant conglomerates.
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Published at Thu, 25 Apr 2019 10:57:47 +0000