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Samsung Interested In Underlying Bitcoin Software To Use With Services Other Than Bitcoins

April 10, 2015 - Written By John Anon

If you are a fan of Samsung, then today is a big day as it the launch of the company’s latest flagship offerings in the form of the Galaxy S6 and Galaxy S6 Edge. Both devices are now available to buy in a number of places and locations and from all the major carriers. However, the Galaxy range of smartphones are only a small part of Samsung’s portfolio and business ventures. In fact, smartphones in general are only a small part of Samsung’s portfolio.

Instead, Samsung have been (and now even more so) positioning themselves as a leader in technology. They like to be one of the first to try new platforms and techs and see how they can be implemented or used within their existing line and range of products. Their displays are a prime example of this. While the company has spend years developing screens which are lighter, thinner and more curvy, this has then be followed by the introduction of their new Edge version of curved display screens on smartphones.

Well, the latest coming down the wire is that Samsung are turning their attention to Bitcoins. In particular, it seems it is the underlying technology serving the Bitcoin industry that Samsung are interested in. This technology, dubbed Blockchain is what is used to securely pass Bitcoin funds around. Samsung, being the keen innovators they are, are starting to think that the same technology could be used to pass other things around in a similar fashion. Movies and music being prime examples. Although the tech is primarily in use for Bitcoins at the moment, the software can be manipulated quite easily to offer new avenues. In short, it could be used for any type of online transaction. This line of thought seems to be exactly what Samsung have in mind for the software. According to Steven Rahman, director of strategy at Samsung Research America, Blockchain will be ideal to verify “that what you say is authentic is authentic“. Whether Samsung are intending to incorporate this soft of software directly on to their future phones in some sort of hardware capacity is unknown at the moment. Allternatively, it could just be used on the software side for their recently announced Samsung Pay, or to help facilitate their music and radio services. Either way, it seems Blockchain is another way in which Samsung seem they can distance themselves from the competition.