This Press Release Proves Samsung Has Gone ‘Full Crypto’
I got a new SIM card this week.
Nothing special about that. People get new sim cards all the time. The #firstworldproblem I’ve got is I don’t really need it.
I’ve already got a phone with a SIM card that’s perfectly fine. And I’ve also got about eight months left on my contract to run. I don’t plan on changing it out any time soon.
I’m currently running a Huawei P20 Pro. You know, that phone maker from China that’s freaked out most of the ‘Western’ world. For what it’s worth, the P20 Pro is up there with the best phones I’ve ever had.
I’ve had a few too. Nokias before phones got ‘smart’. Nokias when phones did get ‘smart’. An iPhone when they first came out, and one after. Then a Sony and a spate of Samsungs after that. Finally I’ve landed on Huawei.
And like I say, I’m not changing it out any time soon. Even once my contract is out, I’ll still run it. It’s easily got the best battery life of any phone I mention above. Well, except the Nokias, but all they did was call, text, and snake. Not exactly battery intensive.
This new SIM card I don’t really need. But I’ve got it anyway. It’s part of a bundle upgrade I made for my broadband and TV deal. For fun they throw in an unlimited texts, calls, and a data SIM as well.
So, I guess I’ll take it. But I couldn’t be bothered porting my number over, and as I say, I’ve still got eight months to run on my Huawei phone’s SIM contract.
That means there’s only one thing to do…dust off the ‘old’ Samsung Galaxy S7 Edge and run another phone. Why? Why not.
More than two billion Galaxy phones sold
I dove into my tech cabinet and pulled out my gold (yep I went full gaudy) S7 Edge. I charged it up for a couple hours, put in the SIM and voila, she was back to life!
It’s been a while since I properly used the S7 Edge. But within just an hour of playing around with it, I remembered how good it was. I mean, it’s a seriously good phone. And it’s only just over three years old.
It’s still virtually brand new. But since the S7 Edge, Samsung has released a huge number of superior phones. They’ve gone through the S8, S9, and S10 models now. Plus there’s all the various iterations of these numbers, ‘plus’, ‘5G’, and then premium variations like the Galaxy Note 10 and 10+.
Of course it’s no great surprise at how good Samsung’s Galaxy line up of models is. In February this year, CEO of Samsung, DJ Koh said Samsung had sold more than two billion Galaxy phones.
Not a bad outcome from the Korean company. While there may only be around 7.5 billion people on Earth, let’s not forget a lot of people probably have more than one Galaxy phone. Even for people with multiple phones, Samsung still holds around 34% of the US smartphone market and over 40% of the European smartphone market.
The S7 Edge wasn’t my first Galaxy. And now that my love affair with the brand has somewhat been rekindled…it probably won’t be my last.
I’ll see out the Huawei. But me knowing me, in about eight months, there’s a good chance Samsung will be back in the hand. And with the unlimited SIM too.
There’s also another reason why I’m likely going to head back to Samsung Galaxy phones. And it’s not battery life. It’s not camera quality. It’s not the design. It’s not because China may be spying on me through my Huawei.
It’s because Samsung is ‘crypto friendly’.
Billions of new crypto users?
We can’t put an exact number on Samsung users. Like I said, some people have more than one Galaxy phone. Like me.
But we do know they hold huge market share in massive markets like the US and Europe. Now Samsung has become ‘crypto friendly’, there’s a clearer picture of mass market adoption of crypto around the world.
On Tuesday this week, Samsung’s newsroom put out a nonchalant announcement. The title of this announcement was, ‘Developers and Users Get More out of Blockchain with Samsung Blockchain Platform SDK.’
The announcement noted:
‘From cryptocurrency wallets to DApps–or decentralized apps– Samsung has been steadily building a variety of blockchain-powered services, as it sees an opportunity to capitalize on [blockchain technology’s] potential.’
That’s why earlier in the year there was much fanfare around Samsung’s Blockchain Wallet App. This would feature heavily on the high-end Galaxy S10. This would also have a dApp store with blockchain-enabled applications.
Now they’ve gone a step further to release their blockchain ‘software development kit’ (SDK). SDKs for major operating systems like those found on a Samsung are crucial. It enables developers of applications to integrate the features of the phone into what they’re working on.
In this case if you’re a game developer, that’s building a new mobile app you’ll be able to use the SDK to build Samsung’s features into the game. For example, you will be able to integrate the Samsung blockchain wallet into the game, to perhaps send tokens as game rewards directly into a wallet.
Then even after you’ve left the game you’ll have those tokens available to use elsewhere, spend or exchange.
Samsung make it very clear that the integration of crypto payments is a big part of this blockchain SDK. They note:
‘Crypto Friendly Payment: [The SDK] allows developers to enable cryptocurrency transactions for currency, tokens, and in-game items in their apps.’
And importantly their focus is on ‘keeping it simple’. And that’s the crucial element here. Samsung, one of the world’s biggest phones makers, is making a simple way to reach billions of potential users.
That is…billions of potential cryptocurrency users.
One of the biggest issues people say faces cryptocurrency is scale. How does this relatively niche technology revolution scale to billions of people? Perhaps the answer has been with us all along. Through billions of Samsung smartphones.
And if Samsung’s doing it now, then we’d suspect Apple won’t be far behind. And if they’re all doing it, then others like Huawei, HTC, Sony, and Motorola will be doing it too.
Mass adoption of crypto is coming fast. And when it hits it’s going to spark the kind of bull run in crypto values that we’ve never seen before.
Editor, Money Morning