With the launch of their new Galaxy S10 device, Samsung set not only the smartphone crowd abuzz but also the cryptocurrency industry. Anthony Pompliano, the Founder and Partner at Morgan Creek Digital stated that this revelation by the South Korean electronics manufacturer was a precursor to a fully integrated cryptocurrency wallet.
Last week, Samsung announced that their Galaxy S10 model will support private keys for blockchain-enabled applications, courtesy of Samsung Knox. Leaked unconfirmed pictures also allegedly showed that the device could support Bitcoin [BTC] and Ethereum [ETH] wallets, but nothing was confirmed by the company.
Cryptocurrency proponents are still hopeful that this addition would signal mainstream smartphone manufacturers to add a crypto-wallet to their upcoming devices for such a large, untapped market. Pomp agreed with the sentiment and predicted that a fully integrated wallet was imminent. He expressed his views on the February 26 episode of Crypto Trader with Ran Neuner.
Anthony Pompliano stated that the cryptocurrency industry required more “infrastructure” that can support such additions and attract heavy-weights of the smartphone industry. He added,
“I just look at this as a baby step, towards what we all think will eventually be a fully-integrated secure wallet on the phone.”
Neuner added that cryptocurrency will go mainstream if the mobile phone industry, particularly the manufacturers and the networks became more receptive towards the digital assets realm. He further added that the provider that capitalizes on the ‘first mover advantage,’ and introduces a multi-coin wallet that can be used on a mobile device, will be the “real winner.”
The Morgan Creek Digital founder questioned whether this would be “winner take all,” or can multiple companies enter this fray with their own device. He suggested that vertical integration is the key if multiple companies launch their own wallets,
“I tend to think that the vertically integrated solution will win. The big question is can, let’s say, Google and Apple both launch products with a vertically integrated wallet, and gain market dominance, likely, but I think that the vertical integration is definitely the key.”
Crypto-phones are creating waves in the community with another smartphone giant, HTC, expanding their payment options for Exodus 1 in an attempt to capture the virtual currency community.
Previously, the company limited its payment options to Bitcoin and Ethereum. However, at the Mobile World Conference in Barcelona, HTC announced that the coin could now be purchased by Binance Coin [BNB], Litecoin [LTC] and the US dollar. Exodus 1 will be sold for fiat currency for the first time from March, with the company stating that the aim for 2019 would be to sell 1 million units.
Exodus 1 has a “private wallet on a blockchain” named Zion that will be operable on Opera, courtesy of their recent partnership with the browser. This integration will allow micro-payments and decentralized applications [DApps] on the device.
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Graduate of Finance and Economics, interested in the intersection of the world of decentralized currency and global governance.