More people may be familiar with Foxconn being associated with Apple but the Taiwanese electronics company is serious in becoming bigger in the mobile market. Back in the day, it was rumored to be making an Amazon smartphone. It did sign an Android Agreement with Hon Hai, Foxconn’s parent company, as Google decided to buy Foxconn patents for an undisclosed amount. And just last week, Foxconn officially acquired Belkin, Linksys, and Wemo in an $866 million project. This multi-million deal involving the Foxconn Technology Group means new products and services will be introduced or improved.

Sirin Labs is joining the fray by coming up with a new blockchain phone that can be a person’s very own and very secure phone that stores digital coins. If you’re not into cryptocurrency yet, you may want to consider and look into it. We’re not encouraging you to take the leap but it’s important you do your own research, read up, and be informed about this thing.

For those who have already made the jump, you may be glad to know Foxconn may be working on a blockchain phone. It’s a cryptocurrency-focused smartphone from Sirin Labs. Details are scarce but we’re imagining the Finney, the name of the blockchain device, will allow people to use and store their digital coins in a more secure way. The idea is that the special phone will have memory sticks to store the coins, usernames, and passwords.

The phone is believed to launch Octoner this year in several areas where crypto communities are still very active. A Sirin executive noted it could also be available through mobile carriers to sell at least 100,000 units of blockchain phones to the mass market.

Sirin Labs already has competitors in this field. There are the likes of BitVault and Zippie planning to come up wth similar phones or just license the software to some hardware OEMs.

VIA: Bloomberg


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