- Blockchain-based smartphones will potentially support the decentralized web or so-called Web 3.0.
- These phones will also be encrypted to store your crypto-wallet keys securely in your phone as “social key recovery.”
- Swiss watches Huboult in the year announced a Bitcoin tributed Big Bang Meca-10 P2P watch.
The year 2020 has brought so many innovations for the cryptocurrency, the hype in the token prices to surge in users, it has been a booming year for the industry so far. The innovations and surge started to gain movement during the great spike of 2017 followed by the dip. Despite the fluctuating markets innovations kept surging, two of those were the blockchain-based smartphones and cryptocurrency enabled smartwatches.
What are Blockchain-based Smartphones?
Ask Phil Chen, decentralized chief officer of HTC and he would tell you that in today’s digital age, security is not as strong as it should be, especially when it comes to data. Blockchain-based smartphones will potentially support the decentralized web or so-called Web 3.0. This internet is capable of supporting dApps or decentralized apps. So how they vary from our regular applications is the data stored on a peer-to-peer public network rather than that owned by tech giants of the world?
These phones will also be encrypted to store your crypto-wallet keys securely in your phone as “social key recovery” where you can choose trusted contacts and share pieces of your key and retract if and when you lose your original key.
Samsung Galaxy S10 was one of the first high-tech devices which was blockchain-enabled that could store the cryptocurrency key and a built-in wallet called the Blockchain KeyStore. By 2019, Samsung was supporting over 30 types of tokens in their wallet. HTC was not far from releasing their own crypto-enabled phone Exodus which provided storage of private keys and Opera browser for accessing the plethora of dApps. The latest in the series is Samsung’s Galaxy S20 and Exodus S1 by HTC, both available via fiat as well as crypto payments.
Cryptocurrency enabled Watch
Traders and the trading market are always on the go. The speed and security are its two biggest weapons grouped with analysis. Crypto-enabled smartwatches are one step in the direction. These watches enable users to hold Tokens of like BTC and come with a deep cold storage wallet. The private key for the same is stored in a USB drive and is protected by offline generate True Random NumberGenerator or TRNGs.
Swiss watches Huboult in the year announced a Bitcoin tributed Big Bang Meca-10 P2P watch. The watch ranged from $25,000 and higher with only 210 pieces produced and was sold only with Bitcoin.
Frank Muller, in 2019 took a step ahead and built a watch “Encrypto” that enabled users to store, buy and safeguard their coins from the watch itself. The watch worked on an offline decentralized TRNG concept. The price for them ranged between $20,000 to $65,000. The dial of the watch was fit with a laser QR to correspond with the bitcoin wallet.
What’s for the Future?
Pundi X which is an offline decentralized cryptocurrency sales company working on the development of smartphones. Those smartphones that will enable both Android as well as the blockchain-based OS. Users will be able to switch between the two while using the phone. In coming time watches with crypto cold wallets and state-of-the-art technology for solutions may come in the market. The same already being announced by a Swiss matchmaker company.