Samsung develops its own blockchain network and possibly – the Samsung Coin

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Samsung, the South Korean electronics giant, is reported to be developing its very own blockchain network on Ethereum and also considering the opportunity to launch its very own Samsung Coin in due course.

According to press, the blockchain team that is developing the blockchain mainnet based on Ethereum is part of the wireless division of the company. The company stated that the entire project is still at “testing internal” phase.

The information comes from CoinDesk Korea. This is what the source for the news report said regarding Samsung’s development strategy:

Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains.

The source for CoinDesk Korea also hinted that if the company does build the blockchain network it has in mind and issues the Samsung Coin down the road, then the coin could easily be traded on different cryptocurrency exchanges like every other altcoin out there.

Samsung is undeniably one of the most innovative tech companies when it comes to blockchain. Just recently, the company revealed its flagship new phone Galaxy S10 that can store crypto private keys and other blockchain-related digital signatures.

In addition, Samsung’s vision for the blockchain network is not confirmed yet, but according to press, the network may even be a hybrid between a private and public one.

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