Blockchain technology, due to the myriad of new opportunities it brings, has begun to disrupt a vast number of industries around the globe. However, there hasn’t been a single industry that has achieved widespread adoption using blockchain technology. Until blockchain-based smartphones arrived on the scene.
The cellphone industry is eyeing as though it’s next up to be revolutionized by the blockchain technology. In fact, Marketwatch released a report which stated that blockchain in the telecom sector is positively expected to grow from USD 46.6 million in 2018 to approx. USD 993.8 million over the next five years.
While it’s undeniable to consider the effects that blockchain technology will put on the telecom sector, incorporating the technology into smartphones could prove to be the step that shatters the wall to its widespread acceptance.
When it comes to mobile manufacturing, major companies constantly look for the latest advancements in technology and innovation. This is the reason Apple and Samsung continually look for ways to outdo each other with their latest release.
In this sense, blockchain-based smartphones could be that next revolutionary step for both giant companies in the long-run, especially if the initially manufactured phones don’t fail to live up to their early promise.
The Finney Phone has got its name after the late Hal Finney. He was the first-ever recipient of a bitcoin.
Based in Switzerland, Sirin Labs already has planned to hit the shelves with Finney Phones in November 2018.
It’s one of the first blockchain-based smartphones. The device is ready to hit the market with reportedly priced at around $1000. Finney Phone will work as an entry-level device for users who are new to the landscape of cryptocurrencies.
Designed to make to make cryptocurrency investment easy for users, the Finney will also bring an incredible level of security.
HTC is the next name which has decided to enter the world of blockchain-based smartphones. It has named its new model Exodus, which is due for release by the conclusion of the third quarter of this year.
While these blockchain-based smartphones are in their early stages, our blockchain technology experts firmly believe that as cryptocurrency gains ground in the digital world and experiences widespread adoption, it’s possible that some of the most prominent names in the phone manufacturing eventually jump on board to join the bandwagon.
The most significant advantage of these phones will be their ability to offer users a cold wallet, which will be accessible via their phones.
With this, we can think that the wallet facilities in blockchain phones will experience the same sort of appreciation as the initial run of pre-installed phones.
Eventually, we can say that the day a prominent smartphone company like Samsung or Apple chooses to work toward releasing blockchain-based smartphones, it would be the day both blockchain and cryptocurrency will make their most significant breakthrough towards mainstream adoption.