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Blockchain-Based SmartPhones: The Next Revolution in Mobile Industry

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Blockchain-Based SmartPhones: The Next Revolution in Mobile Industry

Blockchain-based smartphones are a growing trend in the phone industry. Check out this post to learn more about incorporating blockchain technology with smartphones.

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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. That is until blockchain-based smartphones arrived on the scene.

The Blockchain Technology Revolution

The cell phone industry is next up to be revolutionized by blockchain technology. In fact, Marketwatch released a report that stated that blockchain in the telecom sector is positively expected to grow from USD 46.6 million in 2018 to approximately 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 that Apple and Samsung are continually looking for ways to outdo each other with their latest releases.

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

The Finney Phone 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.

The Finney phone is one of the first blockchain-based smartphones. The device is ready to hit the market reportedly priced at around $1000. The 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 phone will also bring an incredible level of security.

The HTC Exodus

HTC is the next name of a company that 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 becomes more common in the digital world, it’s possible that some of the most prominent names in the phone manufacturing world will eventually jump on board.

Benefits of Using Blockchain-Based Smartphones

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.

Find out how Waratek’s award-winning application security platform can improve the security of your new and legacy applications and platforms with no false positives, code changes or slowing your application.

Topics:
blockchain ,blockchain technology ,smart phones ,htc exodus ,finney phone ,security

Opinions expressed by DZone contributors are their own.

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