The Electronics Manufacturing Giant Foxconn is populaly known for making products such as iPhone, PlayStation Etc. We can also say that these are some of the few products because of which Foxconn grew to fame. But now it looks like the electronics giant foxconn is trying to use it’s fame to make cryptocurrency mainstream in the world of not so popular digital wallet’s by making the world’s first Blockchain Smartphone from Sirin Labs known as Finney Smartphone.
As per the reports, a subsidiary of Foxconn has agreed to manufacture a block chain smartphone from Sirin Labs Known as the Finney Block Chain Phone. According to the startup, the main aim of this Block chain smartphone is to encourage users to use digital wallets more often and to make cryptocurrency mainstream and also securely store digital coins such as Bitcoin, Ripple and Many Other Cryptocurrencies which are currently available in the Crypto Market.
Well, it can be absolutely said that the aim of this startup is very practical and actually useful in solving a real life problem which is not seen quite often in this generation of startups except a few. Nowadays, most of the people who own Cryptocurrencies such as BitCoin Etc, use them very rarely on a day to day basis, and on the top of that in order to prevent theft most of the owners like to keep their coins on special sticks in order to add an extra level of protection considering the levels of Bitcoin thefts happening, nowadays. Not to forget, the passwords for most of the digital wallets are so complex that it would take a Normal person his entire life to figure out the password in case he/she loses or forgets the password.
The Chief Executive Officer of Sirin Labs during an interview said the following things about their Finney Block Chain Phone and how it solves a real life issue:
“With the current user experience, “the mass market would never get it, There’s no chance my mom can figure out how to use Bitcoin, and my mom is smart.”
Sirin earlier raised about $158 million dollars in its initial coin offering, which happened in the month of December, which is in addition to the $70 million dollars raised by the company previously. The siren has planned to sell these phones in about eight retail stores in the areas which has the highest number of active cryptocurrency users which reportedly includes countries such as Vietnam Etc. As per the current information, the Finney Block Chain Phone is expected to in the month of October in the year 2018. Well, the CEO of Sirin also has on-going hopes that the Finney phone is also sold by major carriers as well. The current target of the company is to ship to about 100,000 or a few million phones this year.
As per some sources, the Finney Block Chain Phone is also expected to include features such as the phone will be able to integrate almost all types of tokens which will enable its customers to buy on websites such as Overstock, Expedia and many more by converting their cash into specified tokens whenever necessary. Not to forget, the users of the Finney phone will also be able to use the phone’s WiFi networks during a commute and would get paid in tokens by fellow passengers who want to use the network.
While many people are still having an issue regarding the level of safety the Finney Block Chain Phone will actually provide, Sirin has specially said that the part of the Finney phone which will handle all the coin related part of the phone will reportedly be activated by a physical switch. So now instead of typing in a private key and complex address, the uses can easily verify their identities with a simple iris scan, a fingerprint and a password just like it’s done in normal Smartphones, nowadays.
The Sirin Labs are also working really hard on the Finney Block Chain Phone and is trying to get it into the market as early as possible before its competitors like Zippie and BitVault get their Block Chain Phone in the market. Zippie was started by 10 people with some serious work experience at companies like Nokia and Jola and has already raised around $30 million dollars in its initial coin offering. As per some sources, the startup is also in deals to license it’s great software for some really big hardware manufacturers. The other competitor to Sirin Labs is a company known as BitVault which has reportedly already shipped some units for the evaluation of military applications in countries such as Asia, with the main aim of selling these Block Chain Smartphones directly in the hands of the consumers.