Shortly after the Samsung Galaxy S10 was released on 08 March, Samsung Electronics had announced the cryptocurrency wallet to be used in their latest Samsung model - the Blockchain Keystore.
The Samsung Galaxy S10 is among the first handheld models that support the transfer of cryptocurrencies. Even though it only supports Ethereum and ERC20-based tokens, it is still an exciting innovation in itself.
Some people have also noted that on the pre-release presentation images of the Samsung Galaxy S10 there was already a Bitcoin logo. This aroused suspicions that the Blockchain Keystore will be hosting Bitcoin as well, but for now, this has not happened yet.
The Blockchain Keystore currently supports decentralized apps (Dapps) such as Cosmee which is a community for beauty enthusiasts, Enjin which is a crypto gaming channel, payments service CoinDuck, and CryptoKitties which is a platform for crypto collectibles.
Samsung Electronics said that in the future, the plan is to extend the Blockchain Keystore to other devices, but for the meantime, the only way to download this app is through the Samsung App Store.
The Samsung-backed cryptocurrency wallet was merely speculation at first, but right after Samsung Electronics gave the first confirmation that the rumors were indeed true, it was not long before this announcement was followed by the introduction of the Blockchain Keystore, which is the official crypto app used in the Samsung Galaxy S10.
This was when it was revealed that Blockchain Keystore has three primary features: digital signatures, payment to merchants, and cryptocurrency transfers and storage.
CoinDuck will be working hand in hand with Blockchain Keystore to make merchant payments more efficient.
Using the Dapp, one can either scan the QR code or simply enter the amount to be paid to the merchant. The QR code is most beneficial when you have to send a payment offline.
Before the Blockchain Keystore, there is also the Samsung Knox which is a mobile security solution installed in some Samsung devices.
Some reports state that Samsung used Knox to shy away from using the terms "cryptocurrencies" while introducing the Samsung Galaxy S10 as it could potentially scare away future customers.
Samsung Electronic's verbatim as it published the coming of the Samsung Galaxy S10:
Galaxy S10 is built with defense-grade Samsung Knox, as well as secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.
Eventually, it cleared out that Blockchain Keystore is, in fact, a part of the Samsung Knox.
Beyond that, the Knox and Blockchain Keystore collusion is a sign that one's cryptocurrency might an inch more secured using this wallet.