Blockchain Smartphones to encourage crypto adoption
It seems as if the hype behind the Bitcoin ETF is bringing back the bull market in cryptocurrency. With that, there will be a large demand for Bitcoin, Ethereum, Litecoin, and many others on numerous platforms. However, with half of all internet activity in the world being on smartphones, blockchain startups will need to focus on apps and products that are seamlessly on these devices.
Luckily, a solution is being developed by a number of companies. Dedicated blockchain-based smartphones are entering the space and will likely change the way people invest in cryptocurrency. Let's take a look at a few:
1. Sirin Labs is developing a phone that will have built-in cryptocurrency storage functionality, and that will be reasonably affordable at a $1000 price tag (this is inexpensive compared to their previously developed phones).
2. Competing directly with Sirin Labs is HTC with their new Exodus smartphone. The Exodus is expected to have the ability to recover your private keys, making offline storage of cryptocurrencies safer. They are also working closely with the developers of CryptoKitties (if that has any significance at all).
3. There are also smaller startups, such as Swiss Bank and Blacture, that are looking to enter the space early. From featuring linked Debit Cards to spend your cryptocurrency, to private communication/file transfers using blockchain tech, Sirin Labs and HTC should expect to have strong competition.
In the end, there will likely be a number of smartphones in the marketplace with blockchain-esque functionality built into them. Bottomline, these devices will encourage users to interact with various blockchain projects, in the same way that Apps became a smartphone sensation.
Special thanks to CoinCentral.com for allowing us to reference one of their original articles in the creation of this article.
Link: Original Article
Reference: Nderitu, James. Blockchain Smartphones: An Exploration of Several Market Offers. 27 July 2018