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Livestream: Samsung Galaxy S10 Crypto Wallet ‘Highly Likely’ During Today’s Launch

Last Updated September 23, 2020 12:26 PM
Joseph Young
Last Updated September 23, 2020 12:26 PM

Ahead of today’s anticipated launch, Samsung Galaxy S10 is expected to showcase the Exynos 9820 as the mobile application processor (AP) of the device and according to a local publication in South Korea operated by mainstream media outlet Hankyoreh, it could be a big hint for Samsung’s crypto wallet integration.

Watch the Samsung Galaxy S10 launch livestream here:

In November of last year, Samsung Electronics released the Exynos 9820, its newest AP featuring an octa-core CPU. The company implemented significant improvements from its previous 9810 model including 8K UHD, a Neutral Processing Unit (NPU), and Physical Unclonable Function (PUF).

The report stated that PUF is a technology used by chipmakers to store encryptions keys safely as it strengthens the security measures in hardware containing encryption keys.

In the case of Galaxy S10, the S10 is the hardware and encryption keys would be cryptocurrency private keys if the rumored crypto wallet is integrated.

PUF Tech Suggests Crypto Wallet Integration is Highly Likely

Han Ho-hyeon, a former IT professor at the prestigious Kyung Hee Cyber University and Asia IC Card Forum chairman, has said that the integration of PUF technology into the core processing unit of the Galaxy S10 may just have significantly increased the probability of cryptocurrency wallet integration.

How PUF Works, Source: cadence.com

PUF is a technology that is typically used to store and safeguard encryption keys and mobile phones are only in need of the technology when dealing with cryptography-related systems.

Han said:

PUF technology has been added to the Exynos 9820 revealed by Samsung Electronics last year and if the Galaxy S10 features a blockchain-based crypto wallet, the probability of Samsung Electronics utilizing the PUF is very high.

Previously, smartphones and PCs used SGX and Trusted Execution Environments (TEE) to store encryption and private keys. By using PUF, it is possible to drastically improve the security of private key storage.

Last month, Korea Herald reported that Samsung Pay, the flagship payments application of Samsung used by more than 10 million active users, could be behind the integration of a crypto wallet system into the Galaxy S10.

Since its inception, Samsung Pay has adopted unorthodox methods to expand its active user base.

For instance, its acquisition of LoopPay for $200 million to implement the magnetic secure transmission (MST) technology allowed the app to gain an edge over competitors like KakaoPay and Apple Pay.

With MST, users can settle payments by hovering a device over a PoS machine. In contrast, NFC requires additional steps and verification to clear payments.

Historically, Samsung has taken on its competitors with new technologies, confident in the company’s ability to innovate and in that aspect, its approach is similar to that of Apple.

The integration of a crypto wallet could allow Samsung and its payments app to secure a new niche market that is consistently growing with the commitment of the world’s largest financial institutions like Fidelity and Nasdaq in strengthening the infrastructure supporting cryptocurrencies as an asset class.

Confirm at 11 AM PT

At 11 am Pacific Time (PT), Samsung Electronics will officially showcase the new Galaxy S10 in San Francisco, U.S., which will confirm whether the crypto wallet system reportedly developed by Samsung will be featured in the S10 device.

With the integration of PUF, analysts and industry executives foresee the Galaxy S10 featuring native cryptocurrency wallets.

If Samsung releases a crypto wallet on its Galaxy S10 using PUF, a strong case could be made that the Galaxy S10 is the most secure device in clearing cryptocurrency transactions due to the extra secure environment PUF provides within a mobile ecosystem.