Why is HTC planning to release a Blockchain-Smartphone?

Wed, 16 May 2018 14:10:47 +0200

This week HTC announced plans to release a Blockchain-powered smartphone.  HTC will follow in the footsteps of Sirin Labs, which announced similar plans last September.  The phone should provide support for multiple Blockchain networks including Bitcoin and Ethereum, and should have its own build-in universal cryptocurrency wallet.

Phone to raise security and sales

The company plans to implement a native Blockchain network in which each phone acts as a node for Bitcoin and Ethereum networks, helping expand the base of reliable nodes.   The company also mentioned the possibility of accepting cryptocurrency as a form of payment for the phone.

HTC hopes to boost sinking phone sales with this move and also contribute to supporting a decentralized system.

Blockchain could help raise security and data protection for users at a time where privacy is a constant topic of conversation surrounding smartphones.  Where apps put phones at risk in terms of security and privacy, Blockchain could establish more trust and transparency.

So what’s the hype for regular people?

Regular users know the power of Blockchain when they’re thinking in terms of cryptocurrencies and their ability to store and transfer value – these users are looking to use Blockchain to make a profit, but don’t see Blockchain as the asset, but rather the cryptocurrencies run on it.  The smartphone developers could be seeking to bridge the gap between direct Blockchain use and use through decentralized cryptocurrency trading apps.  This could help demystify Blockchain make it accessible for mass utilization.

 

Sources

/1/ https://cointelegraph.com/news/htc-reveals-plans-to-launch-blockchain-powered-smartphone

/2/ https://techcrunch.com/2018/05/15/yes-htc-is-working-on-a-blockchain-phone/

/3/ https://cointelegraph.com/news/the-vault-within-your-smartphone

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