Samsung has been exploring blockchain technologies on its own devices for some time now. Last year reports about Samsung submitted a trademark for blockchain store surfaced. The news wasn’t a complete surprise as Samsung has been very active in bringing new technologies and innovations to the industry. Recently several live images of the Galaxy S10 have been leaked online which showcase the option for the Samsung Block chain keystore in the settings app. Last month we report that Samsung submitted three patent request for blockchain trademark.
Samsung blockchain keybox will have essentially two parts. One will act as a cold storage for storing private and public keys that allow transactions. The other part will act as ‘store’ for actual blockchain transactions. All of this can be stored on and accessed via your smartphone as an app or a web service. The complete detail of transactions will also be accessible under an additional layer of security on top of Knox and blockchain core.
The images show that Samsung keychain store would be an app running on Galaxy S10. The splash page delivers a strong message about its authenticity “Secure anc convenient place for your crypto currency”. To keep things in control, this app is limited to Samsung devices so far. App will also enable users to import their existing wallets if any, while also be able to create a new wallet for crypto currency from scratch. At the time of writing, Samsung blockchain keystore only supports Ethereum as reported by leaks but it will have support for Bitcoin, Ethereum token ERC20 and Bitcoin Cash by the time it will be unveil in February 20.
There is also a menu for Blockchain Keystore in the settings app under the Biometrics and Security section. It mentions that the service would let users secure and manage their blockchain private key. Some experts in digital currencies had argued that a smartphone with Trusted Execution Environments such as Samsung’s own Knox is not suitable for storing blockchain assets. The company disagree and suggest that these solutions are perfectly secure, they are susceptible to a number of attack vectors that only really vary based on how the TEE is implemented.