According to the local press, the South Korean technology giant Samsung Electronics would be considering adding the cryptocurrency to your Samsung Pay application. A news that is not yet official, but seems to be credited with good odds, also considering that the company is creating synergies between its blockchain task force and the Samsung Pay team.
And so, according to a report published by Business Korea, Samsung's blockchain task force - which is responsible for both the "Samsung Blockchain KeyStore" and the "Samsung Blockchain Wallet", which were added to the latest Galaxy S10 - could soon to open the doors of Samsung Pay to crypto.
The merger of its blockchain task force with the division that develops and manages key services such as Samsung Pay would make a renewed sense. The task force, under the supervision of the vice president Kim Yong Jae, has thus become the protagonist of a reshuffle that could soon lead to the launch of renewed functions "requested" by a non-marginal part of the customers.
It is certainly not a novelty, however, that Samsung wishes to better understand how to use the technology blockchain to improve Samsung Pay, which currently uses a technology called magnetic secure transmission (MST) to allow users to make transactions in conventional stores simply by passing their phone over special equipment, without using the Near Field Communication (NFC) technology anymore.
Blockchain technology and cryptocurrencies could therefore help Samsung Pay further improve its service, allowing users to reduce the costs associated with intermediaries, and thus allowing the execution of the peer-to-peer transaction.
In good evidence, the innovations made by the team will only find application on their smartphones. Currently, in fact, Samsung's cryptocurrency wallet, integrated into the S10 smartphone, supports Ethereum's Ether and ERC-20 tokens, while support for other tokens has been postponed to the future.
It is also not excluded, further comments the South Korean media, that Samsung is trying to launch its blockchain and its token, always based on the Ethereum protocol. However, it is still unclear whether the Asian giant is actually moving in that direction.
