Has the scramble for block chain industry hegemony started?

The research center of the Chain Partners (CEO Pyo Cheol-min) said in a research report on the 12th, "It is very meaningful that Samsung Electronics has installed a key store in the Galaxy S10 when Smartphone markets are saturated and hardware differentiation is limited."

Because Samsung is step ahead of digital assets and blockchain markets first, rival companies such as Apple and Chinese companies will also apply blockchain-related functions to their Smartphones.

The research center cited statistics from a global market research company, Newzu, that the number of smartphone users worldwide will reach 3.8 billion by 2021, and predicted that if major Smartphone manufacturers including Samsung are equipped with blockchain functions, it will significantly advance the popularization of blockchain.

In fact, Samsung Electronics has installed blockchain services which called Wallet and Key Store in Galaxy S10 and planning to expand supporting smartphones in the future.

When blockchain services are directly linked to a smartphone, more users will be able to access digital assets such as wallet and app. The research center also said people should pay attention to not only Samsung but also Facebook's moves. In December 2018, Bloomberg reported that Facebook was developing its own Stable Coin for remittance using Watts app.

In fact, Facebook took over 'Chain Space' which is a start-up block chain company, in February 2019, and is actively hiring talented people related to block chains. Also, research center report looks ahead, it has very significant implication that Facebook integrates Watts app, Instagram and Facebook Messenger’s message function. If Facebook releases 'Facebook Coin' function by using an integrated messenger platform, it means more than 2.3 billion users will have access to digital assets and block chains.

Joongsub Han (Director of the research center) pointed out “if global ICT companies use digital assets that transcend national boundaries to speed up their FinTech business, there will be a change in the global retail banking industry. Therefore, domestic banks should better check global companies not the domestic FinTech start-up companies.”

Reporter Hongrae Kim, Guest writer Jake Kim (news@dailycoinews.com)의 기사 더 보기

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