Samsung Announces New Phone Featuring Crypto Wallet Technology
With the release of its new flagship phone Galaxy S22 Ultra, Samsung demonstrates its growing interest in the crypto space.
Samsung announced that the S22 Ultra is equipped with a crypto wallet and users can also store their identification documents and keys in digital format.
According to the electronics giant, the new features in S22 Ultra will first be rolled out in South Korea later in the year, then expand globally. In addition to storing documents like national IDs, driver’s licenses, electronic debits, and credit cards, and digital keys for homes and cars, the new feature also lets you store documentation. There are also reports that boarding passes, Coronavirus vaccination cards, and crypto might be stored in the digital wallet.
Samsung stated that its new wallet would provide a “seamless, convenient, and secure experience” that would help make everyday life more convenient. The Samsung Wallet will let users easily manage money, assets, keys, and ID all in one application, simplifying their day-to-day routines.
The increasing interest Samsung has in the crypto space is evident when it introduced the phone on a virtual reality platform powered by the Ethereum blockchain called Decentraland. Decentraland allows users to create, experience, and monetize content and applications. The launch of its store on Decentraland showcases Samsung’s ambitions to compete in the metaverse.
A new Samsung store dubbed the 837x has launched on Decentraland by Samsung Electronics America. According to the report, Samsung 837x is modeled after the company’s physical flagship store in New York City. It aims to offer visitors a unique metaverse experience and experiential playground where they can learn more about the potential of technology and culture merging.
A Samsung Galaxy smartphone will have the ability to manage and trade cryptocurrencies from third-party wallets directly from the smartphone in 2021, according to an official announcement.
The update will make blockchain users’ ability to process transactions between digital assets more convenient and faster. This is done by transferring funds from cold storage wallets to the Samsung blockchain, according to the report.
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