What is a crypto phone? Many people have no idea there are already blockchain based phones in development.
On July 29th, Charlie Lee said that HTC’s new smartphone will support litecoin.
Met the HTC Exodus team last week and was really excited to hear the phone will support LTC and Lightning Network on Litecoin natively! I will be an advisor as I see having a secure crypto phone that makes LN simple is needed for mass adoption.
P.S. No, they will not remove BTC. https://t.co/WQcygPVst0
— Charlie Lee [LTC⚡] (@SatoshiLite) July 30, 2018
He mentioned he’s joining the team as an advisor. HTC Exodus will also support bitcoin and litecoin’s Lightning Network.
Announced back in May 2018, the HTC Exodus will be the world’s first crypto phone. It will be used as a storage device for the supported cryptocurrencies as well as a connection point to blockchain networks.
Aimed at true decentralization, the world’s first crypto phone will allow customers to truly own their own data with no need for central authority. This will include the user’s messages, browsing history, e-mails, wallets, etc. You also have the option of pre-ordering the phone with ethereum and bitcoin.
The crypto phone by Sirin is highly innovative in its own right
Last year, Sirin Labs raised $158 million for the ICO of the blockchain smartphone, Finney. This crypto phone will operate on its own blockchain and focus mostly on cryptocurrency. The device will help owners securely store and use cryptocurrencies. It will also integrate many kinds of tokens. This will allow users to shop on websites like Expedia and Overstock by converting their cash into specialized tokens.
Like all things blockchain, security is of the utmost importance. Sirin said that users eventually be able to verify their ID’s with a password, fingerprint or an iris scan. Licensing this technology to other phone manufacturers could help the phone be accessible to a larger group of people. If a software deal is done, the price can go down from $1000 all the way to around $200.
The overall mass adoption of cryptocurrencies could prove to be a big barrier on the way of Sirin. Not many people use blockchain technology or cryptocurrencies. This is a problem that has to be solved in time since the technology is relatively new and most people aren’t educated on the benefits of using it.
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