By
Steve Muchoki
April 19th, 2024
Though crypto enthusiasts have practically lost their hope, it has been confirmed that the new Galaxy S10 will have an in-build crypto wallet called Samsung Blockchain Wallet.
Samsung admirers celebrate as the South Korean multinational conglomerate released its much-anticipated Galaxy S10 line of next-gen smartphones. Nevertheless, after the presentation, blockchain and crypto enthusiasts remained a bit confused as the company hadn’t said much about smartphone’s Blockchain features.
Everybody expected Samsung to integrate an in-built crypto wallet into its new Galaxy S10. Instead, the mobile giant presented a private key storage solution, which Samsung followers could use for mobile services based on blockchain, without mentioning integration of a crypto wallet.
Company’s press release reads: “Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”
After these words, it was supposed that the previously leaked photos that depicted a native crypto wallet with BTC and ETH support built in Galaxy S10, could be fake.
Just for a reminder, on Tuesday, February 19, 2019, the SamMobile reported that Samsung set to create a crypto wallet for cold storage on its Samsung Galaxy S10 phones. However, later the assumption was rejected.
A little bit later, the situation became a little bit clearer.
🇰🇷 – Samsung now priming their phones with Blockchain tutorials. The wallet integration on the Galaxy S10 has been confirmed… even after they denied it. Trying to keep Apple on their toes? pic.twitter.com/wAd7EaPzKw
— Heslin Kim (@BlockchainROK) February 21, 2019
From the new leaked video which is the official Samsung Galaxy S10 blockchain tutorial, we can learn that the company has integrated an in-built crypto wallet after all. It is called Samsung Blockchain Wallet and is a part of its Knox solution.
The Samsung Blockchain Wallet with BTC and ETH support is exactly what a new casual crypto user needs. It has a user-friendly interface and minimalistic design with a basic function set.
Why Was the Wallet Shrouded in Secrecy?
The situation with the wallet integration turned out to be rather controversial and the main reason for it is that the company tried to avoid positioning Knox as a cryptocurrency wallet during its presentation. As it was suggested by the industry’s experts, Samsung just didn’t want to scare away potential buyers.
Though cryptocurrency is widely-discussed today, a lot of people still have a lot prejudices against them, especially after some news like that about QuadrigaCX that have a negative impact on the reputation of digital assets.
That’s why it is believed that Samsung preferred to use a less pretentious name for its solution rather than to widely announce the fact that they had added a native cryptocurrency wallet to the new line of their smartphones.
Speaking about the security, we should remind that one of the most intriguing details about the newly-released smartphones is Exynos 9820 processor, which, since Novemner 2018, has undergone several upgrades, with the latest one called Physical Unclonable Function – a key to direct crypto wallet integration, usually applied to ensure a 100% secure storage of private keys.
Another reason that may explain such behavior may be hidden behind the company’s plans to enhance blockchain-related features and expand such opportunities of the platform in the nearest future.
According to some analysts, the launch of blockchain-powered features by Samsung may significantly boost the mass adoption which is explained by the high popularity of its devices.