On June 30, South Korean tech giant Samsung announced new semiconductor chips that can potentially be employed for mining cryptocurrencies. According to the announcement, the new 3-nanometer process technology will enable 45% optimization of power usage.
Blockchain technology could bring opportunities to telecom companies to cover markets that were somehow impossible to cover before, and this will enable them to grow their revenue minus making any investments.
Global tech bulls have been partnering with cryptoasset platforms to offer the community with the fringe use cases of DLT. Now, Stellar has also jumped onto the bandwagon as Samsung included the coin in its crypto wallet.
The company has introduced a processor in the Galaxy S20 series to store the first cryptocurrency and tokens of the ERC-20 standard. Samsung's Galaxy S20 smartphones have a storage feature for Bitcoin, Ethereum and other digital currencies that support the ERC20 protocol.
Apple Inc has become the newest member of the Fast Identity Alliance Online (FIDO) a group aiming to have zero password access to devices. Among the association members are big names such as Google, Microsoft, Amazon, Intel, ARM and Samsung.
The general situation on blockchain technology and cryptocurrency in Korea is on the rise and developments look to be unstoppable. The country is now working on developing a blockchain-based local currency that works like Bitcoin and other real DLT-based cryptocurrencies.
The world’s largest information technology firm, Samsung Electronics, headquartered in Seoul, South Korea, has successfully added Bitcoin support to its new upcoming distributed ledger tech (DLT) Keystore Software Development Kit (SDK), and the company has disclosed that its digital currency wallet is compatible with its latest Galaxy Note 10 smartphone handset. Samsung is one of the most active companies adopting cryptocurrency and blockchain solutions in 2018-2019.
The South Korean technology giant Samsung Electronics recently revealed results for of Q2 of 2019 that indicate profits are decreasing but the demand for cryptocurrency chips registered a significant increase. The company has found an increasing demand for digital asset chips.
Various developers are trying to make money using other people’s or company’s popular names and brands. As we talk right now, there is a person in South Korea that is trying to prey on Samsung’s blockchain ultramodern plans by ripping off the Samsung Coin brand. The person behind this move has been identified as Kim Nam-jin.