Hello Cryptogang, welcome to another Lambo
Life video.
I’m your host, Evan, and today we will be
talking about Samsung’s upcoming flagship
product, the Galaxy S10 smartphone.
The news about Samsung adding native crypto
wallets in their phone has garnered a lot
of hype from the crypto community.
Some folks on twitter are now saying the bullrun
is about to happen soon and its thanks to
Samsung.
Now for sure if Samsung does add a native
wallet in the S10, that would certainly present
cryptocurrencies to an astronomical number
of people.
Afterall, Samsung sold over 1.2 billion of
their smartphones in 2016 alone.
That’s a lot of users right there!
But we do have to take into account, that
just because crypto wallets are there doesn’t
mean people are simply gonna use it.
Afterall, who uses all the features available
on their smartphone.
I don’t.
I probably use only like 10 percent or less
of what my smartphone offers.
Coz I simply don’t need nor care too much.
And the same is to be expected when it comes
to crypto wallets.
But due to the sheer number of Samsung users,
I’m certain that if there is a built-in
wallet and tutorials on how to use it, Samsung
could drastically drive adoption to crypto
because of their phone
It’s not gonna bring billions of people
but it’s gonna be a whole lot.
More than a whole lot actually.
And this will spike the price.
A few days ago there was a leaked video showing
the Samsung S10 having built-in crypto tutorials.
Of course it got viral and raised a lot of
interest from the crypto community.
But there were skeptics saying that video
was a fake as Samsung has denied it themselves.
However, it turns out it was actually real.
Let’s take a look.
See I thought this was fake but boy I’m
glad to be wrong coz this is good news!
The feature is called Blockchain Keystore.
Now Im not gonna advertise for Samsung here
but I just want to elaborate the features
that are great for crypto users.
Check this out.
According to a press release; launching the
Blockchain Keystore app on the S10 displays
a screen that says “Store your cryptocurrencies
more securely,” along with a description
of what you can do with the app.
As you can see, it shows three broad features:
payments to merchants,
digital signatures
and crypto storage and transfers.
The phones full list of possible blockchain
usecases are:
secure distribution of data, insurance and
contract verification, content copyright management,
direct sharing of content, in-game goods ownership,
digital asset management and transactions.
According to the terms and conditions, the
Blockchain Keystore generates and stores a
private key, and can securely sign and store
cryptocurrency transactions using blockchain
technology.
It needs to be noted though, that this type
of storage is centralized, because you are
relying on Samsung to store your keys for
you.
But in my opinion it’s a good start especially
for those that have never been exposed to
cryptocurreny wallets before.
Hey if we want mass adoption, let’s not
make it too difficult for newbies, right?
Now before we move on, I’d like to remind
everyone that although it’s nice to have
all this fancy words up in here that doesn’t
mean people will use them the way Samsung
wants them to or we want them to.
But it’s just good to know that a company
that has a lot of influence on our modern
day lives has taken the first step.
Not only that, Samsung is also planning to
make the Blockchain Keystore available on
all mobile devices they develop, and possibly
notebooks too, in the long term.
Third-party services as well as dApps will
eventually be able to run on the Galaxy S10.
Let’s take a look at the wallet.
It’s very simple to use
1First you input the address, amount and fee
2Then press the “send” button, 3 which
will ask you to confirm with fingerprint ID
or PIN code.
Once the authentication is complete, the transfer
is sent.
Instead of typing out long public cryptocurrency
addresses and possibly making mistakes, wallet
addresses can be entered using the camera
to scan a QR code whenever it is available.
The app appears to support Ethereum and Bitcoin
by default, as there are logos for the two
currencies displayed in the Blockchain Keystore
introduction.
But there’s also a token “add” button,
so it is likely we can add Ethereum-based
tokens in the wallet
What’s so intriguing is that the Blockchain
Keystore also provides hints about the possibility
of connection to Samsung’s payments platform,
Samsung Pay, in the future.
Could it be that Samsung Pay will integrate
cryptocurrencies in their platform?
Afterall, they need something to leverage
if they want to compete with their rivals
Apple and Alipay.
Coz they’re not actually very well in that
regard.
If they build bridges with the crypto community,
that would help.
Or are they planning to create their own centralized
blockchain or token?
Either way that’s gonna hype things up for
all of us.
Will this result to mass adoption?
Probably not on its own.
But there is a growing interest in cryptocurrencies
lately.
And we’re off to a good start of the year.
I think big things are about to happen in
2019.
The bear market actually turned out to be
a blessing in disguise.
And in the upcoming videos I’ll tell you
why so if you haven’t already, please make
sure to subscribe.
Personally I won’t be buying a Galaxy S10
coz I’m too broke haha.
It’s not that I don’t have any money,
it’s just that I’m saving my fiat to buy
more crypto because the signs are pointing
to a bullrun.
Now I could be wrong about this but we’ll
see.
Galaxy S10 will start shipping on March 8
for those who wanna buy.
By the way I’m not accepting any phone donations.
If you want to give me something.
You could tip me on Lightning but that’s
about all I accept for now.
And you know what?
Damn it feels good to be in crypto.
The flipside is coming guys.
It’s about to go up.
See you on the flipside!
