29 April 2019 10:32, UTC

Last week, rumors that Samsung plans to launch its own cryptocurrency were discussed very actively. The situation was clarified by the head of business development and fintech at Samsung SDS in Europe, Moritz von WIDEKIND, who said that the company is really discussing this issue.

He answered journalists' questions at the Blockchain Expo in London and clarified that, although the company is considering Samsung Coin, the use and design of the token is still unclear at the moment. Its purpose will undoubtedly be something to do with customer loyalty. The work is in progress and carried out by several divisions of Samsung, and if the creation of the coin is finally confirmed, it will be controlled by the electronics division in South Korea.



“Samsung is a huge organization and everyone within the organization works with blockchain, to a certain extent. We are building this multi-use case enterprise platform, which of course, can be used by any Samsung entity, but it doesn’t have to be,”

— commented the representative.

The South Korean electronics giant has long been interested in cryptocurrency, as it is clear according to the latest version of the Galaxy S10, as well as numerous investments and partnerships of the company. Rumor has it that the blockchain division was creating a network based on Ethereum, which led to conclusions about the development of cryptocurrency.

Image courtesy of Oracle Times

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