Samsung’s latest flagship phone will include a dedicated secure storage function designed for cryptocurrency private keys.
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The news that Samsung added a private key storage to its new Galaxy S10 smartphone shook the crypto world, as many have taken it as a sign of endorsement from the South Korean tech giant. However, as details are scarce, many are wondering what “hardware storage” the company announced and why it wasn’t mentioned during keynote presentations.
Samsung announced in February that their newest phone, the Galaxy S10, will include secure storage for its users’ cryptocurrency private keys.
The company made a press release detailing the phone’s many features, notably including Samsung’s proprietary defense platform, Samsung Knox, which will feature secure private key storage that it claims is specifically “for blockchain-enabled mobile services.”
Baked-in support for cryptocurrencies in smartphone platforms is not completely unique to the space, although this initiative by Samsung represents a major step for the technology’s integration into mainstream products. As it stands, there are currently two smartphones that support crypto assets: HTC’s Exodus 1 and Sirin Labs’ Finney.
These two phones have seen much more limited adoption than any product Samsung could release for several reasons….