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South Korean consumer electronics giant Samsung is working on a blockchain based on the infrastructure of the world’s most valuable cryptocurrency, Ethereum.

 According to allegations, there will be a cryptocurrency called Samsung Coin on this blockchain.
It has been revealed that Samsung has been working on its own cryptocurrency since the last year. CoinDesk Korea says that the company will build on a new blockchain based on the Ethereum blockchain.

The studies are still in the experimental dimension. It is also said that Samsung’s crypto money plan is planned to be used in next-generation payment systems and is part of the company’s üzere wireless technology ödeme work.

A source from Samsung said that the Ethereum Domain Name Service in CoinDesk will give NFTs a domain name with an extension of about 300 thousand Ad .eth Ad:

“We are currently working on a special blockchain. This may be the public blockchain of the future, but in my opinion, it will have a hybrid structure. So it is like a combination of public and secret block chains.”

NFT, or Non-Fungible Tokens is actually a new generation of economic terms. Each unit of NFTs, known as unique units Türk in Turkish, is not equal to each other. For example, if you trade another 1 TL with 1 TL, you don’t change. However, the value per unit value of a value in NFT can vary. Also, we can divide units such as non-unique Bitcoin and TL by 0.5, while NFTs do not divide. NFTs have been used in mobile games called CryptoKitties.

Samsung can also enter crypto money exchanges:

According to the details offered by CoinDesk, when Samsung finishes its work on its blockchain, it can offer crypto money called Samsung Coin. According to sources, Samsung Coin will have the potential to be traded on crypto money markets as well. This shows that it will be traded on stock exchanges like Bitcoin and Ethereum.

On the other hand, Samsung has a mobile payment system called Samsung Pay. The company can combine Samsung Coin with this application and offer fast payment options to its customers.

According to the statement, Samsung’s work on the blockchain has been active for the last 1 year. The flagship family, introduced on February 20, had features to support blockchain-based digital signatures, even on Galaxy S10 devices.

Last March, Samsung officially announced a crypto money wallet that complies with the ERC20 standard. This wallet is still ongoing and test work is not in active use in many countries, including Turkey.

It is not difficult to read the intention of the South Korean company when it combines the features and distributed application support in the Galaxy S10 family, Samsung Pay and CoinDesk’s claims from official sources.

Let’s see what Samsung’s blockchain and Samsung Coin will see in the coming days.


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