The Smartphone Crypto Wars Are Upon Us

Blockchain has become a buzz word for companies looking to make a big splash and generate a fair amount of publicity.  This has been the case for several industries over the past few years and it’s now true for the smartphone industry.

Samsung and HTC were the first smartphone makers to fully embrace cryptocurrency and its related DApps, and it now appears that LG is ready to join them.

According to a news report by the South Korean media outlet, IT Chosun, LG Electronics is expected to follow Samsung and HTC into the crypto world shortly with its own blockchain-capable smartphone.

LG expected to push back against Samsung

The report notes that an official within the industry said, “LG is likely to respond to Samsung’s innovation initiative.”  According to that same official, LG has completed its research of DApp and Blockchain related companies.

Earlier this year, after Samsung released its decentralized app store, Blockchain Keystore, LG filed a trademark application for the name ThinQ Wallet in the U.S. Patent and Trademark Office.  According to the filing, LG’s crypto wallet is expected to offer services such as financing, settlement, mobile and internet payment services, and a mobile wallet.

Samsung the current leader for blockchain-capable smartphones

Samsung is consistently known for being a pioneer within the smartphone industry.  That reputation is what helped propel the company to the top of the sales chart in 2018 with 293.7 million smartphones being sold.  Although the overall numbers were solid, there was a concern among analysts we may have reached ‘peak smartphone’ meaning there is no where to go but down.  One possible way to avoid that may be embracing blockchain-capable smartphones.

Samsung officially entered this space with the launch of its Galaxy S10 in March this year.  The phone came with a fully built-in wallet along with support for ERC20 tokens and four DApps.  Those initial apps included a payment app, a…

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