LG May Launch Its Own Blockchain Phone: Report

Consumer electronics giant LG may be looking to launch its own blockchain smartphone.

A report earlier today from Korean media outlet Chosun said “LG is likely to respond to Samsung’s innovation initiative,” a major brand competitor. In the report, Chosun further claimed LG is having difficulty separating a potential blockchain phone from Samsung’s previous releases.

Earlier this year Samsung released its Galaxy S10 in multiple models complete with its Blockchain Keystore. The S10 is fully compatible with ERC-20 tokens, dapps, and recently, bitcoin.

“LG has been struggling to apply blockchain to smartphones without any dissimilarity,” a Chosun source continued. “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.”

Chosun also said LG has completed market research on dapp and blockchain providers. Earlier this summer, LG applied to trademark “ThinQ Wallet” in the United States. The patent states ThinQ is purposed for a transaction, settlement, and e-money services.

LG and Samsung may be the major name brands in the field but they aren’t alone.

Sirin Labs’ Finney blockchain smartphone began shipments last December starting at $999 and last week Huobi Global announced the launch of its ‘Acute Angle’ blockchain phone in Southeast Asian markets.

LG image via Shutterstock