Leave bendable displays behind. The first time buyers see the benefits of a new generation of cellphones is when they pick up the box. To safeguard cryptocurrency storage, we utilize them. The people behind it want to make it easier to make crypto payments and more manageable to handle virtual assets.
And to facilitate our digital world’s decentralization, they are mostly built on blockchains. Is the phone business on the verge of disruption from blockchain smartphones? The debut of the first crypto-centric cellphones, which both the phone and blockchain sectors had never seen before, occurred in December 2018. The potential of blockchain to enhance autonomous cars, healthcare, and the IoT grows with time. However, as individuals and businesses use linked devices for more streamlined data exchange, IoT usage grows.
Although blockchain technology boosts the performance of IoT devices by safeguarding data and enabling quicker speeds, it is not yet possible to get a blockchain smartphone. Several telecommunications firms have made investments in creating decentralized devices by integrating blockchain technology with smartphones. We may say that the Finney is about the same price range as high-end phones like the iPhone and the Samsung devices.
As co-founder and co-CEO of Sirin Labs, Moshe Hogeg said during the launch ceremony, “The Finney phone is a one-stop-shop.” With the Finney, you no longer needed a ledger, a computer, wallet software, and an exchange, and you could instead make trades. In addition to Finney, a few more blockchain smartphones are available. On HTC’s smartphone, called Exodus 1, the company is offering a blockchain-based solution. As part of the collaboration with Bitcoin.com, we got to know that all new Exodus 1 phones would have the BCH wallet pre-installed.
At the moment, these early gadgets utilize blockchain technology to make bitcoin more accessible. Still, many are already thinking about what other potential applications the technology may have in the future. While still in the early stages, Chen foresees a time where blockchain smartphones provide a means of data privacy and control.
No Brainer Smartphone
As blockchains are for virtually every possible application and crypto-currencies are becoming more popular, smartphones will likely come with blockchain capabilities and wallets soon. The blockchain won’t stop at the smartphone but will also serve to combat mobile data. Before the upgrade, Opera users could safely store, pay, or use Ethereum dApps without installing any particular software.
Blockchains will not end with smartphones, but they will use them to help mobile combat data. Initiatives in the crypto space plan to enable users to freely share their bandwidth with others via blockchains, whether in their house or on the road. In addition, World Mobile, a consortium of telecom veterans who all have prior experience with VOIP, might go on to become the first “blockchain-powered mobile operator.” In the context of privacy and security, all the elements above are included. In December of last year, a collaboration was formed with Phore, focusing on anonymity and confidentiality via crypto-currency.
With cryptocurrencies and blockchain-based marketplaces, consumers will be able to purchase SIM cards and access mobile networks that are decentralizing on their separate blockchains. We must also mention that World Mobile is developing a blockchain-based smartphone that they want to market globally. Called “Thunder,” the gadget will house a “hyper-secure hardware wallet,” provide users with the ability to establish a unique “crypto-ID,” and will also provide extra bandwidth to the user’s group.
Blockchain Smartphones: The Future
Users can have more control over their online personalities and data using blockchain technology. Finally, phone users will utilize social recovery tools to get their data even if they are lost. Alternatively, they might prevent the International Mobile Equipment Identity (IMEI) from registering to a new device. Blocked devices may be rapidly and easily identified and disabled by carriers and smartphone vendors, protecting personal information held on phones. Supporters of the blockchain think that this technology will help establish a decentralized web. The decentralized application model will use technology as a blockchain to support public, peer-to-peer networks, which can power DAPPS that reside on public networks rather than private corporate servers.
Another benefit of blockchain technology is to reduce the quantity of plastic in cell phones. Verizon has obtained a patent for a system that leverages blockchain to create virtual SIM cards, as evidenced by the U.S. Patent and Trademark Office (USPTO) issuing a notice of allowance for this concept. Patent documents show that the system’s blockchain will link a virtual SIM card (VSIM) to an individual user account and subsequently activate the SIM card. After receiving and confirming the signal, the device would next send a password back to the blockchain to confirm activation. The concept of virtual SIM cards has existed for some time.
Another good example is WorldSIM, which provides customized virtual SIM cards that enable you to make local phone calls just like you would in your country. A VSIM would make it possible for enterprises to go SIM-free. Because each VSim is unique to a device, using blockchain to encrypt user data may make the process entirely digital.
Blockchain and the Internet of Things
Companies are continuing to discover more about the potential of blockchain technology. IEEE has released a five-course program on enterprise blockchain for healthcare and supply chains. For more precise and accurate information, visit blockchain.