Crypto Asset Wallet Installed on Samsung Galaxy S10! What is the Impact on the Market and the World?
Samsung has decided to install the cryptographic asset wallet on the new smartphone “Galaxy S10.” The all series “Galaxy S9” had sales record of about 30 million units, and if the new model has similar sales numbers, it will allow their crypto asset wallet to be recognized by many people.
Making crypto assets more familiar to users is likely to have a positive impact, such as the result of a rising market capitalization and of the market as a whole. However, there is also the risk of an increase in crimes aimed at wallets, so in this article we will talk about the impact of smartphone-equipped wallets in the world from the perspective of the light and dark side.
- Samsung’s new smartphone comes with a crypto asset wallet
- HTC Launches New Blockchain Smartphone
- How does the market for crypto assets and the world change with “smartphone x crypto assets”?
Samsung’s new smartphone comes with a crypto asset wallet
Samsung has announced that it will install its own crypto asset wallet on the newly announced smartphone “Galaxy S10.” The “Galaxy S10” was released on March 8, 2019, and the smartphone-mounted crypto asset wallet, developed independently by smartphone manufacturers, received great attention because of its news characteristics.
The wallet is intended for storage of Ethereum (ETH) because it complies with the ERC-20 standard.
You can also access Dapps with the wallet. Dapps are applications that make use of the blockchain, and innovative apps that combine the investment of crypto assets with games have been released around the world. For example, famous Dapps games such as CryptoKitties and Etheremon have moved ETH to Samsung’s dedicated wallet, which also allows the transfer of funds from one app to another.
(Reference: https://crypto-times.jp/samsung-revealed-detail-of-its-blockchain-wallet/> CryptoTimes, 2019/03/16, Details of the crypto asset wallet installed on Samsung’s Galaxy S10 Will be published)
HTC Launches New Blockchain Smartphone
In addition to Samsung’s smartphone wallet, Taiwan’s HTC has launched the world’s first blockchain smartphone. The name is “Exodus 1” and was released during October 2018. As with Samsung, Dapps can be used easily from a smartphone.
It also has its own crypto asset wallet and supports Ethereum’s currency. In recent years, cashless services such as smartphone payment services and QR code payments have attracted attention in Japan, but in the global smartphone market, a wider range of usage methods such as online shopping and games using crypto assets is emerging.
(Reference: https://www.itmedia.co.jp/news/articles/1902/27/news065.html> ITmediaNEWS, 2019/2/27, HTC block chain smartphone “Exodus 1” Opera browser cash purchase also Possible)
How does the market for crypto assets and the world change with “smartphone x crypto assets”?
With products such as Samsung and HTC combined with “smartphone x crypto assets” being sold, mobile phones that will introduce blockchain and crypto asset settlement tools to terminals will also increase in the future.
Here, we predicted that as the combination product of “smartphone x crypto asset” spreads, the world may change as follows.
• Increased number of users across the crypto asset wallet industry
• Crypto asset settlement becomes more convenient and settlement enabling stores increase
• Increase in crimes aimed at crypto asset wallets of smartphone terminals
There is no doubt that the more a crypto asset is close to many people, the better the impact on the market as a whole. However, this comes with negative events and unforeseen circumstances, such as increased crime against crypto assets.
We will speak of this in detail below, so let’s explore the impact on the world.
Increased number of users across the crypto asset wallet industry
With the wallet for crypto assets pre-installed on the smartphone, that is, embedded in the “from scratch” terminal, it can be expected that the number of wallet users across the industry will increase. Since it has been common to install “from scratch” with conventional crypto asset wallets, the utility of pre-installation should increase the number of people interested in cryptos itself.
In particular, Samsung’s second largest global market share of smartphones (as of the second quarter of 2018) will be significant. The “Galaxy S9” series sold more than 30 million units in 2018 worldwide.
Crypto asset settlement becomes more convenient and settlement-enabled stores will increase
The built-in cryptographic asset wallet in the smartphone represents that crypto assets will become more familiar to smartphone users. Then, as more and more people are interested in investing in crypto assets, there is a possibility that the demand for using it for payment will also gradually increase.
Although the cryptocurrency regulations are not fully developed in Japan, the government aims to establish a “Cashless Promotion Council” and plans to reduce the percentage of cash payments in the future. Crypto assets are included in cashless settlements, the expectations are for the environment to improve where such future legal maintenance and increase of settlement-enabled stores will progress.
Increase in crimes aimed at crypto asset wallets on smartphone terminals
By installing the crypto asset wallet on the smartphone terminal, it is also necessary to predict that it will work in the wrong direction. For example, it is possible that crimes such as hacking and unauthorized access may increase targeting crypto assets deposited in wallets.
What these criminals target is “it’s easy money” and “security is weak.” These are the reasons why a cryptic exchange that is not completely secure is vulnerable to hackings. When using a cryptographic asset wallet, you must protect your assets yourself using two-step authentication or an offline operation function (Cold Wallet).
With the release of smartphones with crypto asset wallets by major smartphone makers such as Samsung and HTC, many smartphone users will feel that crypto assets are a familiar presence. With the pre-installation of crypto asset wallets, you should be more familiar with your investment than ever before, and more people will know the attractiveness of crypto assets through blockchain games and apps (Dapps).
However, in order to protect your valuable crypto assets, you must have a thorough understanding of wallet security features and take full security measures.