The Sirin Labs, a Swiss-based company, is planning to launch the first blockchain based smartphone on Thursday, reports say. The launch and shipping of blockchain based smartphone will provide users a secure way of accessing the crypto exchanges. The new blockchain based smartphone will allow users to store their digital currency offline, as well as help them in exchanging encrypted communications with other users.
The smartphone Sirin Finney, as announced at the beginning of this year, will have a built-in cold storage wallet which will be used for holding Bitcoin, ETH, and other major crypto tokens; that also includes Sirin’s SRN tokens.
The SRN token helps in faster payments across various blockchain Peer-to-Peer (P2P) networks without using the crypto mining. Sirin, in an initial coin offer, was able to raise over $157 million for the Sirin’s Finney smartphone. The firm also has plans to launch PC which is blockchain based. The smartphone and the PC, later, will run the open source operating system – Sirin OS.
The senior analyst at J Gold Associates, Jack Gold, said that the blockchain based smartphone is more focused on a mini niche market – to differentiate them from the rest of the smartphone world. He stated:
“The companies that are playing here are hoping that the crypto market will take off and become a real payment method for the mass market. Frankly, I think its wishful thinking, as I don’t see this taking off anytime soon.”
Features of the Smart Phone
Sirin’s Finney smartphone comes with a physical toggle switch that allows a feature to quickly disable all the unencrypted communication connections. Thus, it ensures that the digital storage of the smartphone can be used as a cold wallet for virtual currencies.
Not just this but the phone also provides encrypted communications, which includes VoIP, E-Mail, and text. The phone comes with three factors authentication like blocking, behavior, and biometrics. Other features of the smartphone include decentralized App Store – used for DApps, learn news projects of the crypto world, and to purchase tokens and new coins.