Home news Crypto Adoption: LG Takes its First Step In Blockchain Smartphone Market

Crypto Adoption: LG Takes its First Step In Blockchain Smartphone Market


Tech Giant LG is getting prepared to launch its own-blockchain-powered smartphone as per reports. 

LG to Launch Blockchain-powered Smartphone

Per reports from a leading media outlet, Chosun, LG is all set to launch its own blockchain-powered smartphone in response to Samsung’s recently launched Klatyn phone.

The news has been officially confirmed by Kakao’s Ground X subsidiary last week. Furthermore, LG has met with several dApp developers to discuss future collaborations.

The report further mentions an unnamed insider as saying,

“ Samsung “makes a more attractive proposition for blockchain developers” as the company “already has a crypto wallet for smartphones and a dApps marketplace.”

LG’s Tryst with Blockchain

LG has been keen on tapping the prowess of blockchain technology and has been exploring a range of blockchain-related avenues. Earlier, the tech giant launched its Monachain blockchain platform. Also, it is working with major Czech bank, KB, on a token of some form. The company also plans to work with farmers and schools on an ambitious blockchain-powered school lunches project.

LG recently filed a trademark application for ThinQWallet in the U.S. The wallet will reportedly offer a number of services. These include the issuance of cyber money, a computer software platform for blockchain, and mobile electronic wallet for cryptocurrency.

Samsung’s KlatynPhone Launch

Samsung’s new smartphone is priced at $1,000. Moreover, buyers will also get some “Klay” tokens, the native token of Klatyn.

Earlier this year, Samsung launched the Galaxy S10 smartphone, which also offers a cryptocurrency wallet and decentralized apps (dApps). Furthermore, Samsung earlier planned to expand these features to their Galaxy phones to help blockchain reach wider audiences.

Recently the creators of Finney, the world’s first blockchain-focused smartphone, announced that the device would soon have a debut in Bangladesh.  Also, Huobi announced plans to release a blockchain-powered smartphone “Acute Angle,” developed by the Whole Network, earlier this week.

With several contenders launching blockchain-based smartphones, it will be interesting to see which one becomes a customer favorite. 

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