Samsung Developing It's Blockchain + Samsung Coin?

Samsung, the South Korean electronics giant is said to be developing it's own Ethereum based blockchain and may issue it's own token, currently dubbed as 'Samsung Coin' according to the exclusive report from CoinDesk Korea.

The blockchain mainnet is expected to be built on the Ethereum blockchain by the company's in-house blockchain development team. They are also expected to launch a new asset dubbed as the Samsung Coin.

According to an official working on the project who shared his views to the Korean publication:

"The Galaxy S10 password wallet also supports Etherium and Etherium-based erc-20 tokens," he said. "We are developing into an Ethereum based block chain."

However, the direction the company will take with respect to the cryptocurrency part has not been decided yet according to the report.

We also know that Samsung SDS has gotten into a JV with Tech Mahindra to take their enterprise solution Nexledger blockchain tech to many of their clients across the world.

With the Galaxy S10's crypto wallet already supporting ETH based cryptos, an ETH based offering might help take Samsung's market domination to the next level in the years to come.

Also worth noting is the fact that recently Samsung has been part of the $4 million investment raised by mobile wallet ZenGo.

Interesting developments from Samsung! Gotto love Koreans for their love towards blockchain and cryptocurrencies!

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