LG to Launch Blockchain Phone, Giving Tough Competition to Samsung
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LG to Launch Blockchain Phone, Giving Tough Competition to Samsung 

Recent reports from Chosun, a Korean media outlet, revealed that LG is expected to soon constructively react to Samsung’s innovation initiative. Chosun elaborated that LG is facing challenges separating a potential blockchain phone from the previous releases of Samsung.

The Chosun source added, “LG has been struggling to apply blockchain to smartphones without any dissimilarity. 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.”

The tech giant has also planned to engage with farmers and schools on school lunches project powered by blockchain.

LG has been best known for blockchain technology and exploring multiple business arenas for the execution of the same. The firm has launched in-house Monachain blockchain platform and is supposedly working with a major bank KB on some sort of cryptocurrency.  

With a six-inch infinity display, 3400 mAh battery and Wireless PowerShare feature, Samsung’s Galaxy S10 is fully compatible with ERC-20 tokens, dapps, and bitcoin.

In the early months of 2019, when Samsung announced their new Blockchain Wallet, LG highlighted that they have had recent discussions with various decentralised app (dapp) developers to initiate a possible collaboration in future.

Positing Samsung’s credibility, an unnamed technology insider said, “[Samsung] makes a more attractive proposition for blockchain developers [as the company] already has a crypto wallet for smartphones and a dapps marketplace.”

A week ago Samsung announced their blockchain phone named “KlaytnPhone”.  Currently the phone is available only in South Korea for nearly $1,000. But credible news sources have confirmed that LG had recently filed a patent in United States to get a cryptocurrency wallet for smartphones. Also, LG is a member of GroundX’s Klaytn governance council.

Even though LG and Samsung are big names of this field, there are a few more.

Ahead of everyone, HTC had released its blockchain smartphone in October 2018, that was privacy-oriented, with encryption, to protect a person’s electronic assets. Since, the past release was done months back, people now have high expectations of updated hardware from HTC. Till that point, any person on the lookout for a blockchain phone can be termed unfortunate.

Also, Sirin Labs’ Finney blockchain smartphone started deliveries in last December beginning $999 and last week Huobi Global announced the launch of its ‘Acute Angle’ blockchain phone in Southeast Asian markets.

However, the question still remains whether LG’s blockchain phone will be able to gain the market share that Samsung has already claimed for itself.

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