Samsung expects to launch the solution in the middle of the third quarter of the year.

The renowned technology company Samsung issued a statement where it unveils its new solution to improve security on mobile phones. According to data that the company of South Korean origin offered, the tool has a security chip and advanced software that helps keep the user’s personal information safe, as well as bank data, financial operations, and even cryptocurrency transactions.

According to statements that Dongho Shin offered, who is Samsung’s Senior Vice President, this new tool that puts the company in the user’s hands is intended to adapt to the new needs of “this era of mobility and contactless interactions.”

Shin added that this tool is part of a response that Samsung offers to its users to improve the security systems on their mobile devices. He said that these systems take into account the current changes that the Covid-19 pandemic generated.

In more detailed data, Shin mentioned that the tool seeks to ensure tablets and mobile phones with high levels of security. According to the executive, they hope that “they will be highly secure to protect personal data and allow financial technology activities such as mobile banking, stock trading, and cryptocurrency transactions.”

The statement explains that the chip has a CC EAL 6+ quality certificate. This device makes operations have the highest security requirements, which are very important in cryptocurrency hardware wallets or electronic passports.

As local media detailed last May 26th, this security certificate helps the device to have an authentication system that the company approved, as well as organizations, and service providers, do.

The date considered for the launch of this new security device is not defined until now. However, the company considers that the new device could be available by the middle of the third quarter of this year 2020.

Samsung and Crypto-technology

It is not the first time that the Samsung firm announces technological tools that have been developed with blockchain. Among some of the functions that the company has created for cryptocurrency enthusiasts stands out the support system that the Samsung Galaxy line of smartphones enabled. In this way, users can use Tron, Bitcoin, and Ether in their operations.

Regarding the aforementioned cryptocurrency support, the company assured that they have plans to include cryptocurrency wallets in other phone lines that Samsung creates.

Samsung has repeatedly recognized its interest in crypto technology, even claiming that it may be considering creating its blockchain system that includes a cryptocurrency developed by the company. However, the company has not yet provided further details on whether this may be possible or not.

Besides, Samsung has already developed blockchain-based tools. One of the most recent tools was the payment system for European banks that the company created in response to merchants who need better and faster ways to conduct sales and purchases. In this way, cryptocurrencies are making faster cross-border payments through safer operations around the world.

By María Rodríguez


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