Samsung Coin rumors: is an Ethereum-based token in the works?

24 Apr, 2019 | Updated: 24 Apr, 2019
by Alberto Arnaldo
Samsung Coin rumors: is an Ethereum-based token in the works?

Sources “familiar with Samsung’s internal situation” were quoted yesterday as hinting towards an upcoming Samsung Coin project.

The person responsible for the comments, which is described as an “official”, confirmed to CoinDesk Korea that Samsung’s blockchain task force has been busy building an ethereum-based mainnet, which would have a private character, although other options appear to be as well on the table:

“It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains”.

The same source was also questioned with regards to the possibility of their own token being launched, to what he admitted that they expect it to come out in the market, regardless of not having decided yet on the “direction” for the project.

The first news regarding the incursion of Samsung into cryptocurrencies were first heard back in December of 2018, when trademark filings from the South Korean electronics firm with names such as “Blockchain KeyStore” or “Blockchain Core” were reported.

Although the company dismissed the early elucubrations that pointed towards their accelerated adoption of blockchain technology, in early March of 2019 the Samsung Galaxy S10 was introduced, and its private key storage functions confirmed the path taken.

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