Samsung executive said that discussion about Samsung Coin has been ongoing

29 Apr, 2019 | Updated: 29 Apr, 2019
by Fifi Arisandi
Samsung executive said that discussion about Samsung Coin has been ongoing

Samsung executive clarified about Samsung coin rumor, saying that there's been a discussion about it in the company.

South Korean electronics firm, Samsung does show an interest in cryptocurrency, which can be seen from the latest Galaxy S10 that included a crypto wallet and their multiple investments to crypto wallet producers. 

Rumor has it that the company’s blockchain division has also been busy building an Ethereum-based mainnet, which lead to many people speculate about the creation of a cryptocurrency.

Speaking at Blockchain Expo in London a couple of days ago, Samsung SDS head of business development and fintech, Moritz von Widekind was bombarded with questions about the new coin rumor.

He addressed the questions very carefully, stating that there’s been a discussion going on in the company about Samsung coin for some time.

As of now, however, the uses and design of the token are still unclear, although for sure it will be for customer loyalty purposes.

He said that the work is still pretty much a work in progress by multiple divisions in the company, while also mentioning that if the creation of coin is finally confirmed, it will be under the electronics division based in South Korea.

“Samsung is a huge organization and everyone within the organization works with blockchain, to a certain extent,” von Widekind told Decrypt.

Adding to his statements, von Widekind also said the discussion hasn’t yet talked about whether the coin will use Samsung’s hybrid NextLedger blockchain or another platform.

“We are building this multi-use case enterprise platform, which of course, can be used by any Samsung entity, but it doesn’t have to be,” he explained.

He, then, mentioned that he’s more interested in technology, such as AI, IOT and blockchain, rather than creating a new coin.

“That’s really what’s driving the future of our business,” von Widekind said.

Despite the vagueness, there is still a slight chance to have a Samsung coin in the future. Stick with Chepicap for more updates on this topic.

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Read more about: Samsung South Korea

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