Samsung Supposedly Looking To Launch Its Own Ethereum-Based Blockchain And Token

According to an exclusive CoinDesk Korea report, which cited a person “familiar with Samsung’s internal situation,” the South Korean electronics giant’s blockchain task force is building an Ethereum-based blockchain mainnet.

To manage expectations, though, the development is said to be at the “internal experimental” stage, which means we’ll likely have to wait to see a solution out in the wild.

“Currently, we are thinking of a private blockchain, though this is not yet confirmed. It could also be a public blockchain in the future, but I think it will be a hybrid – that is, a combination of public and private blockchains,” the source said.

Additionally, the source went on to say that although the markets expected ‘Samsung Coin’ to be launched, the specifics had not yet been decided.

Samsung’s potential foray into the blockchain world has excited cryptocurrency enthusiasts for some time.

In January last year, rumours swirled about Samsung reportedly manufacturing ASIC (application-specific integrated circuit) hardware specialized for Bitcoin and cryptocurrency mining. As part of the deal, Samsung would supply an unnamed Chinese mining equipment provider with the required hardware.