Mass Adoption?

Sending money is rapidly becoming as easy as sending an email. Cryptocurrency adoption is continuing to happen as the Internet of value merges with the Internet of things.

Last year, it was revealed that smartphone giant Samsung had integrated support for securely storing cryptocurrency wallet keys on its popular Galaxy S10 model. They sold over 200 million phones last year and make up just under 20% of global phone sales.

Samsung provided the Blockchain Keystore, which allows users to import or create new and secure cryptocurrency wallets and grants access to other blockchain-driven features.

“Samsung Blockchain Keystore puts consumers in control of their data by providing a platform to consolidate and easily manage private information and digital keys with vaultlike security.” – Samsung Blockchain Developers

Following the huge success of the S10, Samsung has now unveiled its latest flagship model, the Galaxy S20. This brings an array of more powerful features but also new and improved functionality for digital asset wallets.

“We created a secure processor dedicated to protecting your PIN, password, pattern, and Blockchain Private Key. Combined with the Knox platform, security is infused into every part of your phone, from hardware to software. So private data stays private.” – Samsung Galaxy S20

The move by Samsung puts the company at the forefront of blockchain and cryptocurrency adoption, but it isn’t just Samsung taking steps to push adoption. Tax service and product provider Refundo supports federal tax refunds in cryptocurrencies and numerous central banks are trialing their own bank-backed digital currencies.

This post is for educational purposes. All information used is referenced accordingly. This is not investment advice; please always do thorough research and only invest what you are willing to lose, especially in times of uncertainty.

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