Samsung recently announced the newest model in it’s flagship “S” series with much fanfare. As is to be expected, the company talks loudly about improvements to the new phone. Those include enhanced display, improved cameras, wireless power sharing, faster internet, and more security. There’s a lot to be excited about. However, Samsung leaves out huge markets by not better branding the phone for the cryptocurrency and blockchain communities. The S10 actually has huge promise to be one of the first mobiles to really dedicate itself to blockchain technology. This, however, is barely mentioned by the company.
Most of what we know about the S10 comes from a release that Samsung published late last month. However, a more recent presentation at the Mobile World Congress (MWC 19) in Barcelona brings us a bit more info. The release raves about display, cameras, speed, cooling, wireless cameras, and – enhanced security. That’s the bit that has us the most excited.
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 devices, the release states.
This is the only time that Samsung mentions blockchain in the whole release. It doesn’t sound too exciting when you put it like that. However, breaking that claim up and thinking about it in terms of the larger release is more exciting.
Security and Blockchain on the S10
You probably know about the importance of keeping your keys safe but let’s get into it a little bit anyway.
When you think about it, everything about crypto and blockchain is described in hilariously antiquated terms. Cryptocurrencies’ nature is digital, but we still talk about them using terms like “wallets” and “keys”.
Very few blockchain devices have physical keys. For the most part, keys in the crypto world are PINs that you need in order to access your accounts. Lose your key, and someone else could run away with all of your Bitcoin. Forget your key, and all of that Bitcoin is lost forever.
Being able to securely store your PIN on your phone would be huge. It would limit the things that you need to remember and carry around. It would also presumably be backed up along with the rest of the data on the phone. That means that it would be virtually impossible to lose or forget your key even if you lose your phone. It would be even better if Samsung opens up the S10 as a crypto wallet or for other activities, but we’ll get to that later.
If you aren’t already a Samsung user, and if you’re under 50, “Knox” may not mean much to you. “Knox” would make more sense to many of us if it was a flashlight app named after the spell Harry Potter uses to darken his wand. It’s actually a suite of security features named after “Fort Knox.” Fort Knox was — and still is — used to secure much of America’s gold supply. Of course that was much more important when American currency was backed by gold. Anyway, that system was edged out over the middle of the last century and now we’re talking about crypto.
Other S10 Features and the Promise of Crypto Mobile
A secure place to store keys would be great but what about the rest of the release?
As mentioned above, it doesn’t directly say anything else about blockchain. What it does talk about is increased speed, more wireless-connectivity, and access to the upcoming 5G internet revolution. The S10 also works with Near Field Communication and Magnetic Secure Transactions — services that let you pay with your phone. All of that means that if Samsung did want to focus more on cryptocurrency, they’d have everything that they need.
Other Reports and Rumors
There have also been rumors that Samsung is partnering with blockchain companies to make the S10 even more crypto friendly. Samsung has long dismissed these rumors, but they suspiciously stuck around until having been recently confirmed at MWC.
Further, Cointelegraph reports that “a Samsung official” talked about Samsung working with crypto companies, in Barcelona at the MWC 2019 earlier this month. The talk included details on the S10 working with Bitcoin and Ethereum and maybe having its own crypto-wallet. Unfortunately, reports from MWC 2019 are scarce but one video from the event confirms the reports.
— Shash (@emailshashwat) February 25, 2019
Tamara is a marketing and PR professional, enthusiastic about crypto, blockchain and technology in general. She’s the editor at Bitcoin UK.