According to Bloomberg, Sirin Labs, working to create the world’s first smartphone for blockchain, said that to produce their product will be Foxconn Technology Group, FIH Mobile.
Foxconn is a multinational company producing various devices based in Taiwan. This is one of the largest manufacturers of smartphones, and its clients include such giants as Apple, Google, Cisco, Huawei and Amazon.
Smartphone on the blockchain is designed to ensure that users can safely store and use digital currency. CEO Sirin Moshe Hogeg stated that all existing solutions to store and work with cryptocurrencies are counter-intuitive.
… the mass market will never be able to use them. My mom never in my life will understand how to use bitcoin, and my mom is a smart woman.
The first smartphone on the blockchain will bring together many different tokens. With the help of it you can make purchases on websites that accept cryptocurrencies, for example, Overstock.com Expedia and, if necessary, converting cash into different tokens. Team Sirin States that, in the end, users will be able to avoid complicated long addresses and private keys, but instead through the identification, in the different cryptocurrency services through fingerprint scanning, iris or using a simple password.
Recall that Sirin has collected 158 million dollars in its ICO. The start of sales is planned for October. In the future the company hopes to license its technology to other smartphone manufacturers that may reduce the price and make the device more affordable.
One of the first such companies can become Huawei, whose representatives recently discussed the possibility for this with representatives Sirin Labs.