Samsung Looking for Trademark for Cryptocurrency wallet

As per the information stated by the UK Intellectual Property Office, Samsung which is based out of South Korea and is popularly known for its high-quality electronics products is looking for a trademark in the United Kingdom for a cryptocurrency wallet.

Samsung had filed for three European Union trademark applications for blockchain and cryptocurrency interlinked software on the 10th December.

Samsung mentioned such developments under the categories “Computer software for use as a cryptocurrency wallet; Computer software for cryptocurrency transfer and payment using blockchain technology; Computer application software for smartphones, specifically, software to permit users to transfer cryptocurrency based on blockchain technology and disburse by means of 3rd party’s application software,” and listed them under application sections “Classes and terms.”

In the past, there were rumors that the company has plans to embrace a cryptocurrency cold wallet on its Galaxy S10 smartphone. The rumor was disapproved by Samsung consequently.

Earlier in October, a new production process for the 7-nanometer (nm) Low Power Plus (7LPP) process was launched by Samsung Foundry which is the production wing of Samsung. This new process has the ability to cut down its energy consumption by around 50 percent. The chip may supposedly also have a positive impact for every crypto miner using Samsung’s hardware, as energy costs are the crucial factor in driving the profit in the field of the crypto mining industry.

At the beginning of this month, it was reported that one of the leading smartphone manufacturers, HTC, has incorporated the decentralized browser named ‘Brave’ on the HTC Exodus 1 phone, “the first native blockchain phone” that supports a number of blockchains such as Bitcoin (BTC) and Ethereum (ETH) networks, to name a few.

As we had reported in the earlier, one of the topmost electronics supplier, SIRIN Labs had launched its first blockchain based smartphone – ‘Finney.’ The phone was based on both Android and SIRIN’s open-source operating system, SIRIN OS. The Finney phone also has an advantage of a cold-storage crypto wallet that gives encrypted communications.