Samsung launches crypto-supported ‘KlaytnPhone’ after collaboration with Kakao

South Korean electronics giant Samsung has recently collaborated with Ground X, the blockchain subsidiary of Kakao, to launch a blockchain-based smartphone. The Wall Street Journal reported that the phone would be marked as “KlaytnPhone.” The phone will be available to South Korean buyers from today. The phone is a variant of Samsung recently launched flagship smartphone lineup Note 10 with similar hardware specifications.

The phone will come pre-installed with support for decentralized applications (DApps) and crypto wallets, which will come pre-installed. Reportedly, Samsung added support for Klay cryptocurrency on its Keystore last month incorporated with Bitcoin’s support. The smartphone buyers will also receive a certain amount of Klay tokens, the native digital currency of the Klaytn blockchain network.

KlaytnPhone will only support full-scale transactions on Kakao’s blockchain Klaytn network. It is also accessible to non-Samsung Android users who can access the dApps on the blockchain. Samsung is inclined towards making mobile-based blockchain support a norm. The company first plunged into crypto space by introducing support for crypto wallets in its S10 series. Presently, the support was limited only to Ethereum. Samsung is also planning to bring digital asset support to budget Galaxy phones. Samsung has also added many applications as such to its Keystore.

Kakao also launched its blockchain network Kalyth last June with big firms supporting its project. The company gathered $90 million through its Ground X subsidiary and is reportedly planning to list Klay token on a Chinese and a South Korean exchange.