Samsung released a blockchain SDK based on Ethereum, and the blockchain phone is just a gimmick?

According to the latest news from News1, Samsung, a well-known mobile phone manufacturer, announced on July 9 that it will release the "Samsung Blockchain SDK" based on Ethereum's blockchain software development tool before the end of this year. It is reported that this is an Etherium-based blockchain software development kit (SDK), which other developers can use to develop and distribute distributed applications (DApp).

Currently, the program is limited to Samsung's flash smartphone "galaxy S10 series" (S10e, S10, S10+, S105G) and the Galaxy Fold, a folding mobile phone that is available in the second half of the year. In addition, smartphones sold in Korea, the United States, and Canada will be preferred.

Samsung Electronics plans to provide SDK partners with a variety of detailed functions such as exchange rate linkage between legal currency and cryptocurrency and billing information. According to relevant analysts, "Samsung Electronics' open SDK related to smartphones means that more users will be secured. Applications developed by small and medium-sized development companies can be easily linked with Samsung's application kistore, so smartphones The usability of the application will be maximized."

In fact, Samsung will carry the cryptocurrency related function on the new mobile phone products to be traced back to the World Mobile Communications Conference in Barcelona in February this year. At the time, Samsung announced that its new flagship product, the Galaxy S10, would include support for blockchain key secure storage. According to the news at the time, the Galaxy S10 series was equipped with the AP (application processor) Exynos 9820 developed by Samsung itself. Exynos 9820 also includes a semiconductor-based cryptographic key management technology PUF. It is also mentioned in the terms that the Galaxy S10 allows users to store private keys through third-party services or secure enclaves.

If the user loses the phone, according to the T&CS instructions, the private key stored in the S10 Keystore is backed up in a personal account provided by Samsung. If the phone is lost or stolen, the user can access the device and delete the private key via the "Find My Phone" service. In addition, if you accidentally delete a private key, the user can recover it through this service. However, Chain Finance has noticed that if the user's personal account is stolen, the private key may be lost, that is, the cryptocurrency in the mobile phone will not be recovered.

In addition, the phone mainly allows three major functions: payment to merchants, digital signatures and cryptocurrency storage and transmission. Its complete application list includes: secure data distribution, insurance and contract verification, content rights management, direct content sharing, in-game product ownership, digital asset management and trading.

In addition, the phone's statement also mentioned that third-party services provided by subsidiaries can also be used on the device, and various blockchain-based decentralized applications (DAPP) will eventually be available on the Galaxy S10.

It is worth mentioning that this blockchain Keystore application also provides a hint about the possibility of connecting Samsung Pay Platform Samsung Pay in the future. The terms explain that Samsung Payment Services Group is responsible for querying the blockchain Keystore payment. This move is considered by the outside world to enter the blockchain field.

According to media reports, after testing the phone, Samsung's blockchain Keystore application supports Bitcoin (BTC) and Ethereum (ETH) by default. In addition, the wallet also has a cryptocurrency/token "add" button. Therefore, based on speculation, the user will be able to use other cryptocurrencies and Ether-20 tokens based on Ethereum through the wallet.

According to Samsung's pricing at the time, the cost of the S10 basic model was $899.99. The cheapest variant, the S10e, is priced at $749.99. The Galaxy S10 has been shipping since March. According to the Yonhap News Agency, the quarterly (March-May) report released by the market tracking company Counterpoint Research shows that the cumulative sales of Samsung Galaxy S10, S10+ and S10e devices are 16 million units, compared to the sales of Galaxy S9 in the same period of 2018. Increase by 12%. This also means that there are currently 16 million cryptocurrency potential users worldwide.

In addition, thanks to the strong sales of the Galaxy S10 series, Samsung's share of global high-end smartphones has further increased. In the quarter of 2019 (March-May), Samsung accounted for 25% of the global high-end mobile phone market, up 2% year-on-year.

It should be noted that although the sales of Galaxy S10 series are hot, many financial evaluation reports on the chain have found that good word-of-mouth is mainly focused on mobile phone design, hardware, performance, cost performance, etc., and there is no specific mention of its cryptocurrency correlation. The function gives direct play to the sales and evaluation of this series of mobile phones.