Samsung Submits Trademark Request for Crypto Wallet

Samsung has applied for a trademark in the UK for its cryptocurrency wallet. Rumors have been on the rise that Samsung might include a crypto wallet with its next generation of flagship devices.

2018 might be a gloomy year for cryptocurrency investors and miners, but the blockchain technology which is the backbone for digital currencies have seen a widespread acceptance, making blockchain and cryptocurrency more mainstream than ever before.

HTC, another big name in the electronics and mobile industry has recently launched a phone based on Blockchain, with built-in crypto wallet, making it one of the first mainstream mobile manufacturers to jump on the blockchain bandwagon.

The Trademark Application

Samsung filed for a trademark request in UK’s Intellectual Property Office. In the filed document, the classes and terms section mentioned,

“Computer software for use as a cryptocurrency wallet; Computer software for cryptocurrency transfer and payment using blockchain technology; Computer application software for smartphones, namely, software to allow users to transfer cryptocurrency based on blockchain technology and pay via 3rd party application software.”

Another news source has recently reported that the South Korean electronics giants are on their way to getting three European Union trademarks for blockchain and crypto-related software. This might be a clear indication of Samsung making a great investment in blockchain technology and cryptocurrencies.

The news might even provide a necessary push to the crypto trade market, which has seen its market capitalization fall by 90% this year.

Can We Expect Blockchain to Be as Mainstream as Artificial Intelligence?

Artificial Intelligence and Machine learning are comparatively more well known and widely used tech, but it only gained recognition in the public eye, after mobile companies and tech giants like Google, Apple and Huawei started implementing it into mobile devices and electronic gadgets. The technology gained a household name in the last 5 years or so, since its adoption in the daily use devices like our laptops and mobiles.

Can we expect the same for blockchain? Well, it would depend on how well the pioneers or flag bearers of the industry are able to convince people of its advantages over traditional systems. If brands like Samsung has finally decided to adopt it, the signs are great and everyone from the blockchain enthusiast to investors must feel optimistic about blockchain being as mainstream as Artificial intelligence in near future.

Final Thoughts

Samsung’s bid for a cryptocurrency wallet trademark might be the greatest news for crypto and blockchain enthusiast. Since the South Korean electronics giant has the capability to give the technology a necessary push when everything seems to be going on a downward spree.

The crypto trade market is highly volatile, and in absence of a real-world entity backing the digital assets, the prices are dependent on the news and PR. Hopefully, the recent discovery about Samsung’s bid for a crypto wallet trademark can push the prices and popularity upwards.