According to TechWeb, April 5, Israeli technology company Sirin Labs announced that it will jointly manufacture the world's first blockchain smartphone, the Finney smartphone, with Foxconn’s subsidiary, a mobile subsidiary of Foxconn. This mobile phone can safely store and use electronic currencies such as Bitcoin, and users do not have to pay transaction fees when trading virtual currency.
Sirin said that Finney smartphones can automatically convert tokens for use in decentralized applications, eliminating the need for users to redeem different tokens through exchanges. Last December, Sirin raised 157.8 million U.S. dollars through ICO, and they will use it to support the development of open source blockchain smart phones and blockchain personal computers.
Foxconn is one of the world's leading electronic product manufacturers and has produced best-selling electronic products such as the iPhone, Kindle and PlayStations. Now they want to use their advantages in the field of electronic device manufacturing to allow more people access to cryptocurrencies.
Although many people around the world have already purchased Bitcoin, few people use it in daily transactions. To prevent hackers from stealing, users had to save up to tens of characters of usernames and passwords on specific storage devices. Moshe Hogeg, the chief executive officer of Sirin Labs, believes that bitcoin cannot be popularized in the mass market as far as the current user experience is concerned.
Sirin Labs revealed that the product will be officially launched in October this year. Will it be a 7 inch smartphone? We are not quite sure about the appearance design of the smartphone right now. The company plans to sell Finney blockchain mobile phones by opening eight new stores, which may be opened in countries such as Vietnam and Turkey. However, Hogeg said that he ultimately hopes to be able to cooperate with mobile phone operators to sell. According to the company Sirin Labs, so far, Finney blockchain smartphone bookings is over 25,000, they hope that this year's shipments can grow from 100,000 to millions.
It is worth mentioning that Finney blockchain smartphones hope to be able to integrate all encrypted digital tokens on the market and support spending on Overstock.com and Expedia shopping sites and convert cash into cryptocurrency when users need it.
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