Tech Giant Samsung Files for Trademark for Cryptocurrency Wallet

Technology giant, Samsung have for some time now been seeking a trademark in U.K for its proposed cryptocurrency wallet. This was made known on December 27 following the filling of an official request with the U.K. Intellectual Property Office.

Commenting on the development In the “Classes and terms” section of the application, Samsung noted the move as “Computer software for use as a cryptocurrency wallet; Computer software for cryptocurrency transfer and payment using blockchain technology; Computer application software for smartphones, namely, software to allow users to transfer cryptocurrency based on blockchain technology and pay via 3rd party’s application software.”

This new application by Samsung is coming after months of rebuttal, having been touted by sources who believed the company had initially concluded plans to include a cryptocurrency cold wallet in its future technology releases like the Galaxy S10 smartphone. With this new development, Samsung has now filed three European trademark applications for blockchain- and cryptocurrency- related software.

Notably, as earlier reported, Samsung wouldn’t be the first company to take this giant stride. As a matter of fact, Major Smartphone manufacturer, HTC has integrated decentralized browser Brave on its HTC Exodus 1 phone. This smartphone has been dubbed “the first native blockchain phone” with support for multiple blockchains, including Bitcoin (BTC) and Ethereum (ETH) networks.

Earlier last month, blockchain-focused electronics supplier SIRIN Labs was remarked to have also launched its first blockchain-based smartphone called FINNEY. This new smartphone is based on both Android and SIRIN’s open-source operating system, SIRIN OS. It’s important to note that the FINNEY phone offers users a cold-storage crypto wallet and provides encrypted communications.

Besides filling for a trademark for its proposed cryptocurrency wallet, Samsung had in October this year launched a new production process for its signature 7-nanometer (nm) Low Power Plus (7LPP) process node. According to many, this new development could invariably reduce the firm’s energy consumption by up to 50 percent. What makes this very important is that the chip promises to have a significant impact on crypto miners especially as energy cost has so far proven to be a big challenge to their businesses.