Sirin Labs is developing an open-source smartphone that will on a fee-less blockchain. Sirin is actively crowdfunding, should the company make $70+ million it will produce an all-in-one blockchain PC with a 2K display and biometric sensors to complement its smartphone.

According to sources, Sirin`s smartphone will be the only smartphone in the world that's fully secure and safe enough to hold cryptographic coins. The upcoming device, known as the Finney (after bitcoin pioneer Hal Finney), is said to run on a secure, open-source operating system called Shield OS - Android. This would utilize advanced blockchain & cryptocurrency trading algorithms for secure transactions, as well as current blockchain apps, such as a crypto wallet, secure exchange access & encrypted communications.

According to Sirin, all its devices (Smartphones, all-in-one PC`s, tablets) will operate without centralized backbones or mining centers, Sirin devices will form an independent blockchain network powered by IOTA, which is a revolutionary new distributed ledger which is scalable and enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time!

Sirin smartphone users will inherit a default currency - SRN tokens (only SRN token holders will be able to purchase the device). Here is the kicker - the value of the SRN tokens is dependent largely on the number of people investing. Sirin Labs says that “a strong economy requires the SRN to have growing demand within the SRN network and proportional growth in supply,” in its “Sustainable Economy” summary from its White Paper. This would be driven by “device sales”, the value of SRN tokens will be wholly dependent on sales, for a product ahead of its time, are we confident that the small “crypto community” will embrace another niche product, a product that will be priced at £740 which equates to approx. a third of a bitcoin… I would invest that money in bitcoin or alternate cryptocurrency!

For £740, what do you get? Aside from the advanced blockchain & cryptocurrency trading algorithms, the phone comes with a 256GB internal memory and 16MP camera. You also get a behavioral-based intrusion prevention system, physical security switch and blockchain-based tamper-proof feature. This phone is impossible to hack (remember the Titanic – impossible to sink, right?), Sirin`s smartphone has a large internal memory, well thought out features and a top of the line smartphone...

…however, would you trust a mobile device with your crypto wealth? I am not convinced.