The phone is called ‘Finney’ and will come with blockchain features such as a secure P2P resource-sharing utility, a built-in cold storage crypto wallet that will support all major cryptocurrencies and tokens, and a connection to an independent network using a distributed ledger consensus mechanism between all Finney smart devices.
The team at Sirin is in the middle of a token crowdsale event to raise money for the project. The Sirin website describes the token distribution structure as follows:
“The total supply of SRN tokens will be fixed relative to the number of tokens distributed in the uncapped crowdsale. The number of tokens distributed in the crowdsale will equal 40% of the total supply with the remaining 60% allocated as described in the crowdsale website and whitepaper.”
Sirin is attempting to raise $50 million for the Finney smartphone and an additional 25$ million for a Finney smartphone/Finney PC all-in-one blockchain cloud-based service.
The Finney will run on the most recent Android OS alongside Sirin Labs’ SIRIN OS, which will enable the phone’s blockchain features.
The product will be shipped globally and will only be purchasable through the SRN token. To date, there have been 229,258,031 SRN tokens distributed in the company’s crowdsale.
SIRIN LABS AG is headquartedin Schaffhausen, Switzerland. The company has offices all over the world including London and Tel Aviv.