Blockchain Phones -- the Future of the cell phone industry?
Posted on Jul 24th 2018
With blockchain being such a hot-button topic in the tech world today, we've decided to bring you an article outlining the devices that will be featuring this technology in 2018!
Written by David Cullinan -- Crypto Disrupt
Blockchain technology is disrupting a vast number of different sectors across the globe, but there hasn’t really been any one industry that looks as though it could cause the breakthrough to widespread acceptance and use. Until blockchain phones arrived on the scene.
The blockchain technology revolution
The communications sector is looking as though it’s next up for the blockchain technology revolution, and a report released by Marketwatch earlier this month suggests that the technology will contribute somewhere in the region of USD 1 billion over the next five years.
While the effects that blockchain technology will have on the communications industry is undeniable, I think that incorporating the technology into blockchain phones could be the one factor that finally breaks down the wall to widespread public use.
When it comes to mobile phone manufacturers, we know they’re constantly researching the next advancement in technology and innovation, and both Apple and Samsung are continually looking for ways to outdo each other with their latest release.
Blockchain phones could be the next big step for both companies in the long-term, especially if initial phones being produced manage to live up to their early promise.
Sirin Labs in Switzerland already has their offering set to hit shelves this coming November.
The Finney phone
Named the Finney phone after the late Hal Finney, the first-ever recipient of a bitcoin, Sirin Labs device is reportedly priced at around $1,000 and offers users an entry-level device for those who are new to the world of cryptocurrencies.
The Finney will make it easy for users to invest in crypto and offers an incredible level of security.
The HTC Exodus
HTC has also decided to enter the world of blockchain phones, and its Exodus model is due for release by the end of quarter three this year.
Pricing is reported to be comparable with the Finney model.
While these blockchain phones are still at their early stages, I firmly believe that as cryptocurrency gains more widespread acceptance and use we’ll see some of the phone manufacturing heavy-hitters, such as Apple and Samsung eventually jump on board.
The driving factor behind this, in my opinion, will be the ability to offer users a cold wallet which they can operate via their phone.
Depending on how these companies choose to approach this, I could see the wallet facilities in blockchain phones making the same kind of waves as the initial run of app-enabled phones.
The day that a major tech company such as Apple or Samsung picks up the idea of releasing a blockchain phone could be the day we see both blockchain technology and cryptocurrency make its most significant breakthrough towards mainstream use yet.
Once this happens, and it’s really a matter of when rather than if, I think, the entire game will change.