Samsung Joins Hands with Kakao to Roll Out Crypto and Blockchain-supported KlaytnPhone




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Samsung and Kakao launch KlaytnPhone

South Korean electronics giant, Samsung has launched a blockchain-based variant of its newly-launched flagship Galaxy Note10 smartphones. A report unveiled this news on September, 5 noting that Samsung partnered with Kakao’s subsidiary, GroundX to create this new smartphone dubbed “KlaytnPhone”. The firms derived this name from Kakao’s blockchain network, “Klaytn.”

According to the report, the phone will be available to South Korean users starting today. KlaytnPhone’s hardware specifications will be similar to those of the Galaxy Note10. However, the smartphone will have support for dApps. The device will also come with pre-installed crypto wallets. In so doing, the partners aim to minimize the confusion surrounding the blockchain technology. Apart from this, the individuals that purchase this smartphone will receive a specific amount of Klay tokens.

Integrating the Blockchain into Mobile Devices

To ensure the blockchain reaches a wide population, Kakao also availed the Klaytn network to non-Samsung Android users. In so doing, the firm enables Android users to access dApps on its Klaytn blockchain. Nonetheless, only KlaytnPhone will support full-scale transaction on the Klaytn blockchain.

Prior to this, a publication revealed that Samsung had added support for BTC in its dApps store, Blockchain Keystore. The firm had initially introduced support for dApps in March this year with the launch of its S10 smartphone. However, this launch limited crypto storage and transactional support to ETH and other ERC-20 tokens.

Samsung also announced that it sought to introduce crypto support to its budget phones.

Commenting on this bullish move, the firm’s senior managing director, Chae Won-cheol said,

We will lower barriers to new experiences by gradually expanding the number of Galaxy models that support blockchain functions,

He added,

We will also expand our service target countries after Korea, the United States, and Canada.

The leading electronics firm is also determined to add dApps on mobile platforms. At the moment, the company has added more than 12 dApps on its Keystore blockchain.

This news comes after Kakao rolled out Klaytn in June last year. Since then, the firm has attracted big names to support this project. Following this launch, GroundX managed to raise $90 million via a private token sale in March this year. The firm sought to use these funds to list its Klay token it two exchanges, one Chinese and the other South Korean.

Do you think the KlaytnPhone smartphone will help onboard the affluent population on the crypto bandwagon? Let us know in the comments below.