Major phone companies such as Huawei, Apple and Sony have recently been within the crypto headlines for their advancements in crypto and blockchain technology, suggesting that in the future we could see a range of major smartphone products boasting a whole host of crypto technologies, some of which could be set to launch in the coming years.
You probably own a smartphone, in fact, you could even be reading this from a smartphone since mobile technology is now so wide spread and dynamic, therefore a crypto revolution within mobile technology is deemed a worthy next step. This could have major implications for crypto payments via mobile and other cool features, such as NFC technology. We touched on this topic last month, during which we highlighted that this progression could take off as soon as within the next three years:
“We expect that over the next 3 years, a number of major smartphones will not only include cryptocurrency wallets (such as the new Samsung Galaxy), but, more smartphones will also include facilities to transfer, invest and make cryptocurrency payments, all through the use of cryptocurrency based applications. Moreover, since smartphones are essentially very small, very powerful computers, there are huge implications for cryptocurrency mining and for the facilitation of other blockchain based computations. Whilst the need for this might not be very clear just yet, the technology does exist and, we’re pretty sure that the technology will be adopted in years to come.”
We have to remember that as it stands, smartphones and crypto are two separate products and any mobile phones created to enable a crypto revolution will probably be aimed at the retail buyer, rather than the institutional investor. Put it this way, even with camera phones now ultra common, you don’t see many professional photographers using them to replace their high end equipment. Smartphones won’t replace the major crypto hardware of this century, but they could eventually make cryptocurrency accessible to more people.
Moreover:
“As a tool to market cryptocurrency, many major smartphones could become key figures in a cryptocurrency revolution, one that see’s everybody making cryptocurrency payments both online and in brick and mortar stores through applications and technologies built onto their mobile phones. With the major tech giants such as Samsung already working on such products, we don’t think it will be too long until every smartphone manufacturer is exploring this technology and therefore, soon enough, every smartphone users will want to be buying cryptocurrency too.”
The future of cryptocurrency looks bright, tie this in with the growing smartphone industry and we could be left with something very exciting indeed.
