A Win for Adoption? Samsung Galaxy S10 Will Support Crypto

Samsung’s flagship smartphone, the Galaxy S10, highly anticipated and always a news-maker, has given cryptocurrency enthusiasts a new reason to celebrate: the phone will have built-in support for cryptocurrencies, leaks today reveal.

The Galaxy S10 and its variants are extremely popular, so the inclusion of crypto support is no small development in terms of exposure and adoption. Revealed by the Korean giant on Wednesday, rumors of crypto support have been swirling for sometime.

The name given to the feature that supports secure storage is Samsung Knox and, in combination with hardware security, it will allow the secure storage of private keys for blockchain applications on the phone — and by extension, cryptocurrency as well.

The company said:

Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.

There is no confirmation as to whether the phone will support a native cryptocurrency wallet, although leaks have suggested that it will have this feature.

The Galaxy S10 will not be the first smartphone to support crypto. HTC has already released the HTC Exodus 1 blockchain phone, which offers a cryptocurrency wallet and secure storage. Similarly, Sirin Labs has released the FINNEY phone, which comes with a native currency to power services, the SRN token.

Greater Adoption May Be Around the Corner

In recent times, despite the bear market — or perhaps even because of it — several established entities have been slowly entering the crypto space.

Rakuten, Japan’s equivalent of Amazon, recently released its 2018 earnings report which includes mention of an integrated payment app that some believe may include support for cryptocurrency. And, of course, JPMorgan has caused quite a stir in the market, having launched its own cryptocurrency JPM Coin.

Could the Galaxy S10’s crypto support be the shot of energy that the market needs? Perhaps, as it will certainly lend some credence to the idea of cryptocurrencies, which is yet to penetrate into mass public awareness.

Regardless, developments such as this news suggest that the bear market may not last much longer — or at least that there is belief across investors and entities in the core strengths of decentralized digital assets.