On April 4th it was reported by Bloomberg that, Sirin Labs, The blockchain oriented electronics developer, and OS supplier have been successful in their quest of finding a manufacturer for its blockchain-enabled smartphone.
FIH Mobile, A subsidiary of Foxconn Technology Group has agreed to provide assistance to develop the blockchain phone, which will be known as Finney.
Foxconn is one of the largest employers globally and boasts of a clientele including major firms like Apple, Amazon, Google, Cisco, and Huawei. It is a multinational electronics contract manufacturing company situated in Taiwan.
Moshe Hogeg, CEO of Sirin believes that with the existing methods of storage, the use of digital currencies is tough and unintuitive. he also stated, “…the mass market would never get it. There’s no way my mom can figure out how to use Bitcoin, and my mom is one smart woman.”
The smartphone is developed in such a way, where users will be able to store and use digital currencies securely.
A plethora of tokens will be integrated by the device. It will also enable owners to shop on crypto-accommodating sites like Overstock.com and Expedia, converting liquid money into particular tokens if necessary. Sirin said that clients may, in the long run, have the capacity to renounce complex addresses and long private keys, while also enabling the clients to confirm their identities on coin-related services with an iris scan, fingerprints, or even a straightforward password.
Back in December via an initial coin offering (ICO), Sirin raised $158 million for the project following $70 million in initial investment. In October 2018 Sirin intends to ship the first batch of these ‘blockchain smartphones’ to eight new stores in locations with the most active crypto communities like Vietnam and Turkey. The Switzerland-based consumer electronics company hopes the technology can be licensed to other phone manufacturers as well, which would result in a reduced price, in turn making the device available to a larger audience.
Earlier in March reports emerged stating that Huawei was in talks with Sirin Labs, allegedly regarding the license for Sirin’s operating system. Although Sirin Labs have given a confirmation of this meeting via their Telegram channel, no detailed announcements have been revealed in regards to the discussions.