Samsung will launch its cryptocurrency based on the Ethereum blockchain

It is said that Samsung is preparing to launch its own cryptocurrency based on blockchain di Ethereum. Let's find out all the details and advances of CoinDesk Korea.

Samsung Coin coming?

Development is still at the beginning, but the goals are really ambitious: Samsung would still be working on the project to determine exactly how it will use the technology, reports CoinDesk Korea.

"We expect Samsung Coin to be launched on the market as soon as possible, but the management has not yet been decided.

We are currently thinking about private blockchain, although it has not yet been confirmed. It could also be a public blockchain in the future, but I think it will be hybrid, which is a combination of public and private blockchain ... ", reports the magazine.

If you were to implement one public blockchain, anyone would be allowed to participate, as is the case with Bitcoin and the Ethereum.

The Samsung Coin could be listed and traded on Codex Exchange and each trader would have the opportunity to buy it or sell it freely on the digital asset market.

Already in March, in some areas, Samsung launched a cryptographic portfolio that can be used and downloaded on Galaxy S10 smartphone.

At the time of the launch, Samsung revealed that the wallet is compatible only with private keys of Ethereum. According to CoinDesk Korea, the source has not indicated that Samsung is working on integration with Bitcoin.

"The Galaxy S10 wallet also supports i ERC-20 token of Ethereum. We are developing an ETH based blockchain".

Last week, the company also invested in Zengo !, a software solutions company operating worldwide, which participated in a $ 4 million investment round, reports The Block.

The list of companies that will launch the crypto "stretches"

Another big brand like Samsung is implementing its blockchain and its digital asset: soon the South Korean giant will join the list of big companies that will launch their own cryptocurrencies or stablecoin.

So far the list includes: Facebook, JPMorgan, Nike and the largest bank in Japan, MUFG. And, given the blockchain features of its Galaxy S10, which boasts over 40 million users, Samsung seems to be convinced that the strategy will be well received by fans of the cryptography world.