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Korean Media: LG intends to develop a Blockchain Phone to rival Samsung

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LG, a South Korean electronics giant, has started to work with a couple of blockchain developers to launch a blockchain smartphone that would rival Samsung’s Klaytn.

On Sept. 8, Chosunm — local daily news outlet — confirmed that LG had stated already discussed with local decentralized application (DApp) developers who later came up with a use case for its future product. He expressly told the publication, “LG is likely to respond to Samsung’s innovation initiative.”

Interestingly, this news has come only a week after Kakao Corp. — Korean messaging service — had stated that it is ready to begin implanting blockchain capabilities on Galaxy Note 10 — Samsung’s forthcoming smartphone.

The device — dubbed the Klaytn Phone —after being unveiled comes with a wallet and a free handout of KLAY, GroundX’s (Kakao off-shoot) token.

The blockchain smartphone market

Another official told Chosun that Samsung’s move has the potential to trigger a domino effect, with the current increasing number of crypto-enabled smartphone offerings.

Therefore, in this heavily competitive consumer market, LG’s tit-for-tat move is in order.


He said:

“I think Samsung is trying to prepare differently in the blockchain field, just as LG responded with a dual screen when Samsung Galaxy came out with a foldable phone”.

As earlier reported, only the customers operating in the domestic South Korean market will be able to access Klaytn Phone.

The creators of Finney — the first blockchain-focused smartphone in the world — announced over the weekend that they intend to distribute the device in Bangladesh soon.

Source: https://cointelegraph.com/news/lg-developing-a-blockchain-phone-in-response-to-samsung-korean-media

About the author

James Lovett

James Lovett

James is a passionate writer on cryptocurrency industry and other disruptive technologies in the crypto world. He has written several crypto articles for numerous websites and blogs over the years.

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