LG Corporation, the South Korean electronics manufacturer, announced on September 9 that they will be launching a blockchain friendly smartphone soon. This announcement appears to be in direct response to rival Samsung announcing last week that they would be launching their own blockchain smartphone using their Klatyn platform.
LG has already been discussing the project with local decentralized application (DApp) developers. A source close to the story explained that “LG is likely to respond to Samsung’s innovation initiative.”
According to another source, the problem for LG at this point is that they are “struggling to apply blockchain to smartphones without any dissimilarity.” This appears to be one of the primary reasons why they are looking for different developers to assist them in creating a platform that will not violate any patents or put the company in any other type of legal jeopardy.
Last week, the South Korean messaging service Kakao Corporation announced that they were preparing to launch their new Samsung Galaxy Note 10 smartphone, which will be using their Klatyn blockchain technology. This phone will automatically come with a wallet and a free amount of KLAY, the digital currency created by GroundX, an offshoot of Kakao.
According to insiders, the use of blockchain technology with smartphones is just beginning. With Samsung and LG now using this technology in their upcoming phones, it will only be a matter of time before other rival developers feel the need to develop the like. This should lead to greater security and efficiency, but will also likely lead to other types of innovations.
“I think Samsung is trying to prepare differently in the blockchain field, just as LG responded with a dual-screen when Samsung Galaxy came out with a foldable phone,” an official recently explained.
This past weekend, the developers of the first blockchain-based smartphone, Finney, announced that their device would soon be available in Bangladesh. The phone had been approved by the Bangladesh Telecommunication Regulatory Commission for sale within the country in August and will be available for purchase sometime in October.
One area where LG can get ahead of their rival is by creating a blockchain-based phone that could be sold internationally. Currently, Kakao only plans to sell the Klatyn phone in South Korea. This could give LG a great opportunity to move ahead of their competitor if they are able to develop their technology so that it is easily transferable across the globe.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark coins.
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