Samsung has started to focus on blockchain technology and products developed on it. Last week the tech giant announced that it would be integrating Bitcoin features on its signature wallet. The wallet was initially designed to support only Ethereum and ERC-20 tokens.
Samsung has formulated a strategy that the corporation will follow in its approach towards blockchain. The company will reportedly disclose its strategy at its annual conference that will take place on October 29 and 30. The annual conference will be held in San Josè California.
The Samsung Developer conference has been held in San Francisco for the past six years and has become an important foundation of the company’s showcases. The conference brings together experts from various fields, including developers, creators, and technologists to learn and discuss the latest developing tools, products, and services.
The company has integrated Bitcoin in its S10 wallet that will be available on its multiple models including S10e, S10, S10+, and S10 5G. Moreover, the wallet will also be present on Samsung’s Note 10.
This move will assist Bitcoin in gaining further mass-adoption as well as thirty-two other cryptocurrencies that will be available on the wallet. These include Ethereum, Basic Attention Token (BAT), Maker (MKR), and Pundi X (NPXS). Moreover, sources report that Samsung has upgraded its software development kit to support blockchain applications on its Blockchain Key store.
Samsung entered the smartphone business later than some other companies yet made quite a reputation for itself. The company now boasts annual revenues of over two hundred billion dollars ($221bn).
The company is now focusing on blockchain technology and developing dApps and was rumored to launch a “Samsung Coin.” However, the development of such a cryptocurrency is yet to be disclosed.