Samsung To Add Bitcoin Support To Blockchain Keystore

Tom Arran, Thursday 15th August 2019, 1:31 PM CEST

Bitcoin Support added by Samsung to Keystore

Samsung, one of the world’s largest electronic conglomerates worldwide, has added Bitcoin Support to their Blockchain Keystore & Decentralized Application. This marks a significant push forward for the South Korean electronics manufacturer. It’s only been six months since Samsung first announced their decentralized applications in March. This came with the launch of their flagship smartphones, the Samsung S10 & S10+. However, on launch date, only ERC-20 Tokens and Ethereum Tokens were accepted.

Bitcoin wasn’t the only new cryptocurrency to be added to the Samsung BlockchainKeystore. They also added support for the South Korean crypto coin” Klatyn”. The internet conglomerate Kakoa launched this currency. The support for these two cryptocurrencies was inserted into the developer kit for the entire S10 Lineup. This means users with the S10E, S10, S10+, S10+ 5G and Galaxy Note 10 have access to Klatyn and Bitcoin.

Owners of these Samsung devices can now link blockchain addresses with their account on the Samsung Keystore. This will allow them to carry out cryptocurrency transactions, as well as have a digital signature on the Keystore and cloud backup. Unfortunately, these two new cryptocurrencies are available to several jurisdictions. This includes Germany, South Korea, Canada, Spain, the United States, Switzerland and the United Kingdom.

Mobile Blockchain Expansion for Samsung

Even with this blockchain support being limited to Samsung’s flagship devices. It’s estimated that they’ll bring the blockchain support across all Galaxy devices supporting the latest firmware. From all accounts, Samsung is hoping that their DApps will be a significant success on their mobile devices. In its current phase, there are four exchanges connected to the Samsung BlockchainKeystore. Those include Unjin, Cosmee, CryptoKitties and CoinDuck.

Furthermore, Samsung also added support to a dozen decentralized applications on the BlockchainKeystore. This brings the total number of DApps on SBK to seventeen. Since Samsung began their mobile blockchain expansion, multiple other mobile device manufacturers have started filling patented trademarks to provide an electronic wallet like Samsung’s. It’s known that both Sony & LG have filed patents. Currently, Samsung has earned $2.9 Million from the BlockchainKeystore.

Author: Tom Arran

Tom has over 10 years experience on crypto currencies, first mining bitcoin on an old university computer for 20 cents a coin to now day trading bitcoin in between helping to start whichbroker.com. Tom has previously held roles at a leading EU brokerage and provided insight and consultancy work for number of UK banks in Crypto. Tom Arran can be contacted at [email protected], View all posts by Tom Arran

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