Recently, Samsung joined hands with Ground Xto launch a blockchain-based smartphone. Ground X is a blockchain subsidiary of Kakao, It surfaced that the phone will be launched in South Korea today itself. The Wall Street Journal reported that the blockchain-based handset is going to be marketed as “KlaytnPhone.” This device is a variant of recently launched Samsung Note 10.
It seems that South Korean tech giant, Samsung is looking forward to make mobile-based blockchain support a norm. KlaytnPhone will support full-scale transactions on Klaytn network which can be even accessed by users using Android device of some other company than Samsung. It can be tracked that Samsung first leaped into the cryptocurrency space by introducing support for crypto wallets in its S10 series. As of now, support is limited to only Ethereum.
It should be noted that Kakao launched its blockchain network only in last June. It is estimated that the company collected as much as $90 million through its Ground X subsidiary. Klay token might get listed in Chinese and South Korean exchanges very soon.
Reports suggest that the smartphone will be equipped with pre-installed decentralized applications (DApps) and crypto-wallets. It should be noted that it is only the last month that the tech giant added Bitcoin support for Klay cryptocurrency on its Keystore. Buyers of the device will get a certain amount of Klay tokens linked in their account totally free. Klay tokens are nothing but the native digital currency of the Klaytn blockchain network.
The best part is, Samsung has priced this device identical to that of the non-crypto Galaxy Note 10 5G devices. Just to let you know, Galaxy Note 10 KlaytnPhone is priced 1248500 Won (approximately $1047) while the 256GB and 512GB Galaxy Note 10+ handsets are priced 1397000 Won (approximately $1171) and 1496000 Won (approximately $1254) respectively.