Crypto users could soon be enjoying more hardware choices. Multiple smartphone manufacturers announced plans to integrate blockchain technology into their products in the coming months. Blockchain telecommunications is taking crypto users to the next level with integrated decentralized applications (Dapps) and much more. Get ready for crypto phones.
The telecommunications industry is undergoing the start of a blockchain revolution that has the potential to reshape the market for years to come. Analysts have long predicted the integration of these technologies. One study placed the level of future blockchain investment by telecommunications manufacturers at around $1 billion over the next five years. The majority of these future investment funds target the development of Dapps. Dapps are at the core of this blockchain telecom infusion.
Additionally, phone manufacturers are now looking to blockchain technology as the answer to their aging infrastructures. Blockchain technology provides users with more security than the traditional methods used by the world’s telecom giants. After recognizing the possibility for improvement, firms are now looking towards this emerging tech to position their products in the digital economy.
Cryptocurrency phones may look like ordinary smartphones, but a closer inspection reveals a plethora of unique features to keep your conversations and crypto safer. These units are specially designed to meet the demands of a growing crypto community. The melding of these technologies will give crypto enthusiasts access to greater security among other exciting features.
The race is on to be the first manufacturer to release a blockchain-based phone to the public successfully. As you are about to learn, the competition is growing with every passing month. Let’s take a moment to examine some of the most anticipated projects that have been brought to light so far.
One of the most anticipated projects in this space is the Sirin Labs Finney platform. This unique project was made possible through a joint venture with the smartphone manufacturing giant Foxconn. The device already has over 25,000 units pre-ordered.
Finney includes a built-in hard wallet, which enables users to store their crypto directly on the device. You won’t need an exchange to swap your crypto either, because the device utilizes an integrated crypto exchange. The in-phone exchange also comes with zero fees.
The phone’s developers continue to release small details on the project. Their latest functionality upgrade includes the ability to monetize your hotspot. This means you can charge individuals cryptocurrency in exchange for hotspot data.
The Finney project took flight in December of last year following the successful completion of a $158 million initial coin offering (ICO). Sirin Labs hopes to gain additional momentum through the remainder of the year, and developers are predicting millions of units sold shortly after public release.
The HTC Exodus project represents the culmination of years of research conducted by the smartphone manufacturing giant. The Exodus project made recent headlines with the announcement that Litecoin creator Charlie Lee had joined the project as an advisor. HTC wants to take Lee’s in-depth understanding of the crypto community and apply it to their years of research and development of the project.
Details remain limited, but HTC did release a few essential features to the public regarding this device. In the fashion of most crypto phones, the Exodus features a built-in cold storage wallet to keep your crypto safe. You’ll enjoy encrypted calls and texts as well. Additionally, the phone comes loaded with the hugely popular Ethereum-based Cryptokitties game.
The HTC Exodus is the only blockchain-based phone supporting the Lightning Network to date. The Lightning Network is an off-chain scaling solution that utilizes private payment channels to reduce Bitcoin blockchain congestion. While still in its Beta testing stages, developers have embraced the protocol with a steady stream of Lightning Network apps entering the market over the last year.
The Motif project burst onto the crypto scene with the help of world-famous recording artist Pras Michel. The phone is part of the star’s Blacture project, which seeks to provide futuristic tech to black communities with the hopes of stimulating a black renaissance.
The Motif project includes numerous high-level telecommunications experts, such as former Nokia mobile OS programmer, Alpesh H. Patel. Motif users will get paid in tokens for phone use. As expected, the device includes a built-in hard wallet to store your crypto.
Uniquely, you receive a linked debit card with your purchase that allows for daily transactions as well. The card also helps to facilitate remittance payments. Remittance payments constitute international funds that are sent back to an immigrant’s country of origin. Blockchain technology handles these tasks more efficiently, and the integration of this functionality into the Motif platform is sure to fill a much-needed niche in the market.
Unlike many of its competitors, the Motif utilizes a new blockchain-based operating system known as the Zippie OS. The interface rewards users via tokens. The Motif includes a simple registration and full digital encryption. The phone’s developers expect a fall release date. Considering its unique features, and the fact that the price tag is half as much as its closest competitor, experts expect a strong response from the community.
These projects highlight the current shift towards blockchain-based telecommunications projects globally. You should expect to see a continued push in this direction directly following the release of these highly-anticipated devices. In the future, you could see features such as hard wallets become the norm, as cryptocurrencies continue to gain popularity. For now, the blockchain telecommunications race is just heating up.