LG To Launch Its Own Blockchain Smartphone: Reports

LG, the consumer electronics giant, is looking to release its own blockchain-powered smartphone. 

Earlier today, a report from Korean media outlet Chosun stated that “LG is likely to respond to Samsung’s innovation initiative,” given that it is a major competitor to the brand. The report further claimed that LG is facing problems differentiating a potential blockchain phone from Samsung’s prior launches. 

Samsung launched its Galaxy S10 earlier this year, with multiple models complete with its blockchain Keystore. The device supports dapps, ERC-20 tokens, and now, even Bitcoin (BTC).

“LG has been struggling to apply blockchain to smartphones without any dissimilarity,” a Chosun source added. “I think Samsung is trying to prepare differently in the blockchain field, just as LG responded with a dual-screen when Samsung Galaxy came out with a foldable phone.”

It also noted that LG has already completed the market research on blockchain providers and decentralized application. Earlier, LG had issued to trademark “ThinQ Wallet” in the U.S. The patent application states that ThinQ is developed for settlement, e-money, and transaction services.

Even though Samsung and LG are the major name brands in the industry, they are not the only ones. 

The Finney blockchain smartphone by Sirin Labs started shipping in December last year, priced at $999. Additionally, Huobi Global announced last week about releasing its ‘Acute Angle’ blockchain phone in the Southeast Asian marketplace.