Phone manufacturers in China are in a hurry to bring blockchain phones to the market, but there is a significant confusion over the technology itself.
Companies are making a rapid R & D effort to bring the latest trend technologies to their products. Of course, the real goal is to address more people and provide more financial income. For this reason, many companies strive to integrate their products into Blockchain technology.
In China, Mobile phone manufacturers are rushing to make phones related to Blockchain. Several companies have launched their products for the past few weeks and are rapidly developing their phones in other Chinese companies.
Such a mobile phone, Sichuan Changhong Electric Co., launched on March 16., Co. produced by R8 unicorn. The R8 is based on the pow consensus algorithm along with lbs location service and fingerprint technology. The phone is also said to allow users to save data in Blockchain as well as entering Crypto currency mining.
Many large companies like lenova have begun to market Blockchain phones
On March 20, the Lenovo Group introduced the Blockchain Mobile Phone, the Lenovo S5. The company claims to have a Blockchain-based payment area that is referred to as the z-field of the phone and makes financial transactions much more secure.
However, blockchain is too early to get excited about cell phones. More information about Lenovo S5 is not currently available. Also R8 Unicorn, such as Bitcoin mining can not be done. Lu tianwen, industrial Analyst, says the telephone company will be mining krypto currency and will use it for rewards.
Blockchain technology and manufacturers minds, seems to have a lot of confusion about mobile phones. A media organization talked to Industry Professionals about this. Experts said that mobile devices are not exactly clear where Blockchain is and how it will function.
Lu tianwen said he saw all this as a trial attempt to capture only the latest technology. He claims that phone manufacturers only benefit from people and that cell phones are far from real security.
The Shenzhen Stock Exchange and the Shanghai Stock Exchange began to send warning to investors claiming that there was a Blockchain connection. But it seems a lot of people are eager to launder money to Blockchain items.
