[2019-01-29]Samsung Pay could include crypto currency wallet on Galaxy S10

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Quote from: BitHodler on January 30, 2019, 10:08:00 AM

Quote from: davis196 on January 30, 2019, 02:29:59 AM

Why would such a big company like Samsung focus on such a small market like the crypto enthusiasts market?
The costs ot implementation/risk/profit ratio isn't good.What crypto are they going to implement?BTC,ETH,ripple?Are they going to create samsungcoin? Grin

If true, Samsung will be doing an exceptional job securing a first mover advantage.

Another thing is that Samsung Pay can't compete with other payment services, regardless of what they are doing, so crypto might help them gain more market share on that front as well.

In other words, it's a win win for Samsung since there isn't much to lose. It's either do nothing and lose market share, or be innovative and potentially make yourself relevant again. Easy option if you think about it....

And free marketing campaign as well for both. Not to mention the fact, that it could be a thing which most of the smartphones miss nowadays - real innovations. Of course, Samsung would not be the first one to implement the function, but as Apple does, make someone's innovation mainstream.

BitHodler

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Quote from: davis196 on January 30, 2019, 02:29:59 AM

Why would such a big company like Samsung focus on such a small market like the crypto enthusiasts market?
The costs ot implementation/risk/profit ratio isn't good.What crypto are they going to implement?BTC,ETH,ripple?Are they going to create samsungcoin? Grin

The reason that crypto still is a small market comes from how large firms haven't done anything to push crypto towards mainstream adoption. If true, Samsung will be doing an exceptional job securing a first mover advantage.

Another thing is that Samsung Pay can't compete with other payment services, regardless of what they are doing, so crypto might help them gain more market share on that front as well.

In other words, it's a win win for Samsung since there isn't much to lose. It's either do nothing and lose market share, or be innovative and potentially make yourself relevant again. Easy option if you think about it....

Kemarit

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Quote from: davis196 on January 30, 2019, 02:29:59 AM

Quote from: ppblockchain on January 29, 2019, 02:24:25 AM

Samsung Electronics appears to be expanding its mobile payment strategy to include blockchain technology as it reportedly is planning launch a crypto currency wallet system on the 10th anniversary phones of Galaxy S, according to industry sources Tuesday.

Some leaks of alleged images of Galaxy S10 phones showed that the new gadgets offer Samsung Blockchain Keystore that is a crypto currency wallet application.

Read more : https://paperblockchain.com/samsung-pay-could-include-crypto-currency-wallet-on-galaxy-s10/

Why would such a big company like Samsung focus on such a small market like the crypto enthusiasts market?
The costs ot implementation/risk/profit ratio isn't good.What crypto are they going to implement?BTC,ETH,ripple?Are they going to create samsungcoin? Grin

As a business, everyone want's to take and look at the potential market in which they can exploit. Remember that Samsung was not a mobile company in the beginning, and yet they enter the competition with Apple because they know that's there's a huge market for it. And now they're the leading company in the mobile market business. Similar to what Samsung is doing today, crypto enthusiast is slowly gaining grounds so probably in the next 5-10 years Samsung wanted to be the leader as well, integrating crypto wallets in their device, I reckon.

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Quote from: ppblockchain on January 29, 2019, 02:24:25 AM

Samsung Electronics appears to be expanding its mobile payment strategy to include blockchain technology as it reportedly is planning launch a crypto currency wallet system on the 10th anniversary phones of Galaxy S, according to industry sources Tuesday.

Some leaks of alleged images of Galaxy S10 phones showed that the new gadgets offer Samsung Blockchain Keystore that is a crypto currency wallet application.

Read more : https://paperblockchain.com/samsung-pay-could-include-crypto-currency-wallet-on-galaxy-s10/

Why would such a big company like Samsung focus on such a small market like the crypto enthusiasts market?
The costs ot implementation/risk/profit ratio isn't good.What crypto are they going to implement?BTC,ETH,ripple?Are they going to create samsungcoin? Grin

Oilacris

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Quote from: Kemarit on January 29, 2019, 08:26:04 AM

I'm still skeptics by this news and it was also reported since early December that this news is fake.

Quote

“Unfortunately we are unable to provide any information as the below is rumour and speculation.”

https://cointelegraph.com/news/samsung-dismisses-galaxy-s10-crypto-wallet-reports-as-rumor-and-speculation

We don't know the people or the intention behind leaking and spreading this rumour. Crypto community as well is divided, are you wiling to take the risk of buying expensive phones because just of crypto wallet support and high rate of exposure to hackers because the phone for sure will be always hook online or would you rather buy more secure wallet like Trezor or Nano S?

A professional one won't even buy on that thing since they already knew what could possibly the risk they would get. On the other hand, why is it there are people who likes to manipulate someone or like to spread rumors about of false information.
What could they get after making these information spread through out the internet. It may be some personal vendetta if someone has a problem with the company or the brand.

Kemarit

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I'm still skeptics by this news and it was also reported since early December that this news is fake.

Quote

“Unfortunately we are unable to provide any information as the below is rumour and speculation.”

https://cointelegraph.com/news/samsung-dismisses-galaxy-s10-crypto-wallet-reports-as-rumor-and-speculation

We don't know the people or the intention behind leaking and spreading this rumour. Crypto community as well is divided, are you wiling to take the risk of buying expensive phones because just of crypto wallet support and high rate of exposure to hackers because the phone for sure will be always hook online or would you rather buy more secure wallet like Trezor or Nano S?

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Quote from: ppblockchain on January 29, 2019, 02:24:25 AM

Samsung Electronics appears to be expanding its mobile payment strategy to include blockchain technology as it reportedly is planning launch a crypto currency wallet system on the 10th anniversary phones of Galaxy S, according to industry sources Tuesday.

Some leaks of alleged images of Galaxy S10 phones showed that the new gadgets offer Samsung Blockchain Keystore that is a crypto currency wallet application.

Read more : https://paperblockchain.com/samsung-pay-could-include-crypto-currency-wallet-on-galaxy-s10/

Samsung being one of the leading market contributor in the field of technology adding crypto wallet adds value to the brand. Upon the same I believe more cryptocurrency users will go for a Samsung mobile. Already Samsung has got into the process of developing chips for mining. Now adding more value to it, the crypto wallet is being added. Also this being a Korean business firm can expect good rate of adoption in the future.

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There are so much fake news being spread around that it has become difficult to believe "rumours" like this. I have seen the leaked images and it looks like a piece of white paper were stuck onto a phone screen to give the impression that it is the real deal. Roll Eyes

Yes, if this is true, then we will see a massive increase in adoption but wallets like that would become a major target for hackers and SamSung has a poor record to do quick updates when vulnerabilities were found in their software. Roll Eyes

ppblockchain

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Samsung Electronics appears to be expanding its mobile payment strategy to include blockchain technology as it reportedly is planning launch a crypto currency wallet system on the 10th anniversary phones of Galaxy S, according to industry sources Tuesday.

Some leaks of alleged images of Galaxy S10 phones showed that the new gadgets offer Samsung Blockchain Keystore that is a crypto currency wallet application.

Read more : https://paperblockchain.com/samsung-pay-could-include-crypto-currency-wallet-on-galaxy-s10/

Topic: [2019-01-29]Samsung Pay could include crypto currency wallet on Galaxy S10 (Read 180 times)