Is Samsung Becoming a Significant Player in the Crypto and Blockchain Industry?

It seems that Samsung range of smartphones might be the first of many to hit the market in the years to come owing, among other things, to blockchain and crypto adoption by the company.

For some time, competition between tech giants has been predominantly focused on smartphone specifications and improving features such as camera specs, screen size, and resolutions. However, Korean technology giants Samsung, the creators of the Galaxy smartphone range could potentially become one of the most significant driving forces behind crypto and blockchain adoption on a mass scale. The power of crypto and blockchain technology is now accessible and available to more extensive consumers thanks to their smartphones, putting the power in the hands of the people, literally.

Over the years, the Android market has boomed and takes up about 60% of the global market. The graph below indicated that between the years of 2013 to 2019, the quarterly market share held by Android smartphones has been significantly more significant than that held by their biggest competitor iOS. The innovation of technology in Android phones, like Samsung’s newest range of Galaxy phones, indicates a quiet but evident shift in the direction of new blockchain smartphone features.

Photo: Statista

Samsung unveiled its latest 5G enabled Galaxy range of smartphone compromising of the S20, S20+, and S20 Ultra. The new smartphones have been built on the older S10 ranges which means Bitcoin, blockchain, and cryptocurrency are supported on the system which hosts a built-in bitcoin and crypto wallet.

It is thought that Samsung has created a processor that is dedicated to protecting the user’s PIN, pattern, password, and Blockchain Private Key with a combination of their security Knox platform. This ensures that security on their new S20 range is secure.

Introducing their Blockchain Keystore last year it initially only supported ERC-20 token but added bitcoin in August of last year. Using Samsung devices with…

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