Samsung to release cryptocurrency version of Galaxy Note 10
Samsung to release cryptocurrency version of Galaxy Note 10
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Samsung has built a blockchain version of its flagship Galaxy Note 10 smartphone, allowing customers to store cryptocurrency like bitcoin on their phones.
The KlatynPhone will feature the same hardware and will cost the same price as other Galaxy Note 10 devices, however its underlying software will support blockchain apps and a cryptocurrency wallet.
It has been developed alongside messaging giant Kakao, which built a blockchain network called Klatyn that supports cryptocurrency transactions.
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The KlatynPhone will only be available in Korea to begin with, according to The Wall Street Journal, who first reported about the new phone.
Samsung did not respond to a request for comment from The Independent about when it might be available in other markets.
Bitcoin's volatile history in pictures
Show all 8
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'
Reuters
2/8 Bitcoin is used as a currency for the first time
On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens for business
Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin
4/8 The first bitcoin ATM appears
On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash
REUTERS/Dimitris Michalakis
5/8 The fall of MtGox
The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed
Getty Images
6/8 Would the real Satoshi Nakamoto please stand up
In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim
Getty Images
7/8 Bitcoin's big split
On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash
REUTERS
8/8 Bitcoin's price sky rockets
Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year
Reuters
1/8 Satoshi Nakamoto creates the first bitcoin block in 2009
On 3 January, 2009, the genesis block of bitcoin appeared. It came less than a year after the pseudonymous creator Satoshi Nakamoto detailed the cryptocurrency in a paper titled 'Bitcoin: A peer-to-Peer Electronic Cash System'
Reuters
2/8 Bitcoin is used as a currency for the first time
On 22 May, 2010, the first ever real-world bitcoin transaction took place. Lazlo Hanyecz bought two pizzas for 10,000 bitcoins – the equivalent of $90 million at today's prices
Lazlo Hanyecz
3/8 Silk Road opens for business
Bitcoin soon gained notoriety for its use on the dark web. The Silk Road marketplace, established in 2011, was the first of hundreds of sites to offer illegal drugs and services in exchange for bitcoin
4/8 The first bitcoin ATM appears
On 29 October, 2013, the first ever bitcoin ATM was installed in a coffee shop in Vancouver, Canada. The machine allowed people to exchange bitcoins for cash
REUTERS/Dimitris Michalakis
5/8 The fall of MtGox
The world's biggest bitcoin exchange, MtGox, filed for bankruptcy in February 2014 after losing almost 750,000 of its customers bitcoins. At the time, this was around 7 per cent of all bitcoins and the market inevitably crashed
Getty Images
6/8 Would the real Satoshi Nakamoto please stand up
In 2015, Australian police raided the home of Craig Wright after the entrepreneur claimed he was Satoshi Nakamoto. He later rescinded the claim
Getty Images
7/8 Bitcoin's big split
On 1 August, 2017, an unresolvable dispute within the bitcoin community saw the network split. The fork of bitcoin's underlying blockchain technology spawned a new cryptocurrency: Bitcoin cash
REUTERS
8/8 Bitcoin's price sky rockets
Towards the end of 2017, the price of bitcoin surged to almost $20,000. This represented a 1,300 per cent increase from its price at the start of the year
Reuters
The South Korean electronics giant is the latest phone maker to a build blockchain smartphone, with peripheral phone maker HTC launching the HTC EXODUS 1 earlier this year.
Other smaller startups, such as Sirin Labs, have also launched blockchain phones in the belief they represent the future of the internet.
Built around the decentralised web - or Web 3.0 - they use a peer-to-peer network to send and receive information. This means data doesn't need to pass through servers controlled by internet and technology firms, essentially handing back people control of their data.
The HTC Exodus 1 hopes to bring blockchain technology, bitcoin and cryptocurrency to the masses (The Independent)
When it was first launched, HTC described it as "the first smartphone built for this new internet", representing a paradigm shift away from the big data business models of large tech companies.
"All out private data - from credit history to search data - is handled by third parties," Phil Chen, who led the development of the HTC Exodus 1, told The Independent at the time.
"We don't own or control any of it. Instead, it is just seven companies in the world that control almost all of the data. They have become more powerful than governments."
One of the things that this new wave of phones could transform is payments, with each phone coming with an in-built cryptocurrency wallet.
This allows owners of these phones to store and spend cryptocurrencies like bitcoin, as well as forthcoming digital currencies set to be launched by apps like Telegram.
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