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Finney, a Blockchain-based Smartphone Set to Become Available in Bangladesh

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Finney launches in Bangladesh

Finney, the World’s “first” blockchain-based smartphone has obtained a new market in Bangladesh. A report unveiled this news on September 9, noting that the Bangladesh Telecommunication Regulatory Commission had approved the phone for import in August. Per the publication, this phone will be available in the country starting October this year.

According to the report, Finney would join the list of high-end smartphones in the Bangladesh market. With an initial price tag of $999, the device is set to compete against the Samsung Galaxy Note10 and iPhone X.

Why Launch Finney In Bangladesh?

Reportedly,  Sirin Labs chose Bangladesh as the pilot market for Finney because of the country’s approval on importing the device. Apart from this, the country has a lot of economic and financial potential for telecom and tech firms.

A recent report by GSMA Intelligence unveiled that Bangladeshis are among the fastest-growing population regarding smartphone ownership. The report noted that 75 percent of Bangladeshis would have smartphones in the next six years. As such, Sirin Labs decided to seize this chance by launching its flagship smartphone in the country.

Finney Features Blockchain Tech and an Integrated Crypto Wallet

Switzerland-based Sirin Labs began creating Finney after conducting an ICO in the past two years. Per a publication, Sirin Labs raised $157.8 million making its project one of the five-largest ICOs at that time. However, Sirin Labs did not work alone in creating this device. The firm joined hands with China’s Foxconn Technology Group, which manufactured the smartphone.

Some of Finney’s features include a built-in cold storage wallet, secure communications, and a dApp ecosystem. Apart from this, the phone features a Safe Screen, which crypto adopters would verify that their transactions contain the correct details.

Moshe Hogeg, the co-founder and CEO of Sirin Labs said,

Before the Finney, you needed a ledger, you needed a computer, you needed wallet software and then you needed to go to an exchange, and then you could convert. The Finney does all of this in one phone.

This news comes after a report unveiled that Samsung had joined hands with Kakao to launch a blockchain-exclusive smartphone. Dubbed “KlaytnPhone,” the device would have hardware specifications that are similar to the Galaxy Note10. However, the device would support dApps and have pre-installed crypto wallets. Per the report, KlaytnPhone would only be available for South Koreans.

Do you think Sirin Labs’s decision to launch Finney in Bangladesh will help boost crypto and blockchain adoption? Let us know in the comments below.

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