Find the best broker for your trading or investing needs Come October, you will be able to make calls and store your bitcoin on a blockchain-enabled phone. A subsidiary of Foxconn Technology Group, the Taiwan-based manufacturer of Apple Inc.’s (AAPL
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) iPhones, has signed up to manufacture the phone, which has been designed by Switzerland-based Sirin Labs. According to a Bloomberg report, the new phone is called Finney and is intended to simplify user experience for cryptocurrency-related products and services.
“There’s no chance my mom can figure out how to use bitcoin, and my mom is smart,” the startup’s chief executive officer Moshe Hogeg explained. One of the most prominent use cases for the phone is that of storage.
Users will be able to store coins on their phones using Finney. The current process requires an assortment of wallets and storage options to securely protect coins.
Finney will use Sirin’s proprietary operating system and will be equipped with the usual paraphernalia for smartphones, such as cameras and RAM storage space. It has an expecred price of $799.
A physical security switch that protects user e-wallets distinguishes it from other mass-market versions. In addition, the phone will use three forms of authentication: biometric, behavioral and password-based. According to its white paper, Finney devices will form their own blockchain network to enable transactions. Read more from investopedia.com…
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