The smartphone market might soon be filled with gadgets that run blockchain applications as a default following the latest trend of mobile manufacturers to grow in the space. Similar to its competition Samsung and HTC, South-Korean based electronics manufacturer LG (Life’s Good) Corporation is assertedly also looking forward to launching a smartphone device soon that supports blockchain applications. Both of these companies have a head start over LG with HTC, which has launched two devices already that are touted exclusively as blockchain phones meaning that their functionality is mainly supporting decentralized applications, running mining nodes and storing digital assets. Samsung, on the other hand, already having its flagship phones on the Galaxy line spotting features that support transaction and storage of up to 30 cryptocurrencies
An industry source revealed that LG has concluded tests and market research and should be soon launching their devices, speaking to South Korean local news publication IT Chosun.
LG is to be expected to answer to Samsung’s innovation initiative.
According to a report on Sunday, LG-Smartphone The source told the public. The report additionally expresses that LG has worked out a utilization case for its future item dependent on its discussions with local blockchain engineers. The report fell short of giving any possible launch dates and LG has not given any since the report was distributed.
In July, LG petitioned for a trademark patent in both South Korean and the US for development in an electronic wallet that bolstered digital currencies. This was the first sign of LG’s possible section into the incipient blockchain industry which is just beginning to go standard. The interest in blockchain-enabled cell phones is developing. There is an ever-increasing number of people using their phones to exchange cryptocurrencies which implies that they may require other correlative services, such as putting away their assets and others even mining coins and tokens on their phones. In any case, LG hasn’t had a smooth ride in its mission to launch a blockchain phone.
Addressing IT Chosun on Sunday, the sources conceded that:
LG has been attempting to apply blockchain to smartphones with no difference… I think Samsung is attempting to plan differently in the blockchain field just as LG answered with a dual-screen when Samsung Galaxy produced a foldable phone.