Samsung Introduces Crypto Private Key Storage Unit on New Galaxy S10

Just like numerous other technology companies, Samsung is actively studying blockchain technology, and its potential use cases. However, until recently, the company has not announced any blockchain-based product meant for the public.

Recently, the South Korean tech giant unveiled its new series of flagship devices – the Galaxy S10. As part of their Unpacked event, the company presented 4 new flagship devices, boasting a redesign and improved hardware. The new smartphones feature a secure storage solution meant to protect private keys associated with cryptocurrencies and other blockchain-based services.

According to a press release, “Galaxy S10 is built with defence-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”

Samsung did not reveal more details about the Samsung Knox tool, yet the device’s processor (Exynos SOC), comes along with a ‘physically unclonable function’, meaning that it utilizes hardware to ensure that data is stored and managed in isolation. This means that the data is protected from unauthorized internet access, thus preventing a variety of cyber-security threats.

Reports also indicate that a pre-release Galaxy S10 featured a video tutorial, explaining the basics behind a cryptocurrency wallet capable of holding Bitcoin and Ethereum. In other words, apart from the private key storage solution, the devices might also offer an actual wallet.

It is important to point out that the Galaxy S10 isn’t the only smartphone boasting cryptocurrency features. Last year, HTC announced the EXODUS 1, a smartphone which apparently, can only be purchased via Bitcoin and Ether. The Finney smartphone, belonging to Sirin Labs’ also includes a similar feature. This leads us to believe that the crypto adoption trend is creating a butterfly effect that hence encourages smartphone companies to come up with innovative, built-in solutions for crypto users throughout the world.

Based on everything that has been outlined so far, no further details relating to Samsung’s crypto wallet and private key storage tools are available so far. More information will likely be available once the Galaxy S10 begins shipping.