Samsung Electronics is releasing a new edition of its Galaxy Note 10 smartphone that will come with a pre-installed cryptocurrency wallet in its bid to boost adoption of blockchain tech.
According to a Wall Street Journal article on Thursday, the new product is a variant of Samsung's flagship product Galaxy Note 10 but marketed as a "KlaytnPhone," named after a blockchain network developed by messaging giant Kakao.
To be sold on Thursday only in South Korea, the new edition's hardware specification will not differ from existing Galaxy Note 10, but will come with blockchain apps and a crypto wallet, the report said. Buyers of KlaytnPhones will also obtain a certain amount of the Klaytn blockchain's native cryptocurrency Klay.
While blockchain apps on the Klaytn network are now available for non-Samsung phones via Google's Android system, only the Klaytn edition will support full-scale transactions on the Klaytn network.
The KlaytnPhone is another step taken by Samsung to widen its efforts on boosting cryptocurrency adoption. According to the report, Samsung has joined Ground X to launch the edition, a firm set up by Kakao to develop the Klaytn network.
While the Klaytn network has been live since June this year, its native crypto Klay has not yet been listed on exchanges for trading.
Samsung first revealed a crypto-friendly flagship smartphone in March this year, the Galaxy S10, which comes with digital wallets that support cryptocurrencies like ether (ETH) and ethereum-based ERC-20 tokens.
image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.