ICON (ICX) up over 17% following news of Samsung partnership

07 Feb, 2019 | Updated: 07 Feb, 2019
by Richard Allen
Price Action
ICON (ICX) up over 17% following news of Samsung partnership

ICON (ICX), currently sitting in 43rd on Coinmarketcap has surged by over 17% on following news of a new partnership. 

Having been in development for around two years by Korean financial firm Dayli Financial Group, the idea behind the coin is to “hyperconnect the world.” The company behind the project seeks to develop the largest decentralized network in the world, which will function using ICX.

While the market is showing signs of improvement today, ICX is surging ahead with 17.55% gains today. The reason for this is its partnership with Samsung. According to The Oofy, Samsung will be adopting the technology behind ICX for Samsung Pass, the company’s native identity management service included in the majority of their smartphones, making sure the technology receives widespread use. ICX will be able to provide initial joint authentication services to its customers as well.

The identification process, dubbed Chain ID, is already in the works, and in some cases is even being used. Additionally, Samsung has stated that they will begin to use more of ICX’s services as they grow in popularity.

The coin is currently trading at $0.214.

Read more: ICON press release explains recent FUD surrounding founders dumping coins

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