Blockchain Phones Calling the Future of Telecommunications.
Phone manufacturers are constantly on the cutting edge of innovation and technology. This is evident in the yearly releases of bigger and better iPhones and Samsung phones — for example, as these two giants of the space always look to one up each other.
But, there are now phone manufacturers that are trying to leave the competitive battle behind and start a new blockchain-based battle, which will see companies creating phones that are purposefully built for cryptocurrency enthusiasts.
However, it is not only the hardware — i.e., the phones — that will have a touch of cryptocurrency about them, the manner in which business is being conducted by these new blockchain communications industry leaders will also be familiar.
Sirin Labs’ November offering
Sirin labs is a Swiss-based smartphone developer which has a project in the works that will see a blockchain-based phone come to market in November of this year. The funding for such a project has come from an ICO.
Sirin managed to raise $157.8 million in their ICO, with the majority of that — $110 million — coming in the first 24 hours. This shows there is quite a keen interest in this project and the potential it holds going forward for phone manufacturers.
Finney, as the phone will be known, will be on the shelves with a price tag of $1,000.
What makes this blockchain phone different from regular phones is that, although it will be Android, it will run on the Sirin OS and include a cold storage cryptocurrency wallet, a token conversion service and a DApp store for blockchain-based apps.
However, the phone can only be purchased using Sirin's crypto token (based on the ERC-20 token), and 40 percent of the 573 million total tokens it created during the recent ICO have already been sold. (Cointelegraph)