Sirin Labs, the maker of the whopping US$16,000 Solarin Android smartphone is building a blockchain phone and have decided to build their new line of devices named “Finney” to work with a private Ethereum blockchain, rather than IOTA’s Tangle distributed ledger technology as initially stated in its whitepaper.  “We are not working with IOTA. We considered the option and decided to path ways,” Nimrod May, chief marketing officer of Sirin Labs, told ETHNews.

“At launch, we are going to use the Ethereum blockchain. The Finney Phone will work through complete nodes that are hosted on Sirin Labs.

“Our plan since the release of our whitepaper, has always been to migrate the SRN token and Sirin Labs ecosystem to a next-generation blockchain.” The Finney devices, which will include a smartphone and a PC, will run on Sirin Labs’ open source operating system Sirin OS. Sirin OS will be designed to support inherent blockchain applications such as a cryptocurrency wallet, secure exchange access, encrypted communications, and a peer-to-peer resource sharing ecosystem for payment and apps, supported by the SRN token.

Finney devices will form an independent blockchain network. The Finney smartphone, which will retail for US$1,000, is slated to launch and be available to buy in November.

Sirin Labs plans to sell the device through eight new stores located in places with the most active crypto communities. So far, more than 25,000 units have been preordered and the company aims to ship from 100,000 to a few million units this year. Read more from coinjournal.net…

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