Will Samsung Launch a Hybrid Blockchain Mainnet With “Samsung Coin” at Its Core?

By Rushali Shome

Samsung, the world famous electronics major from South Korea might be working on creating a mainnet of its own very very soon. Although no official sources have stated anything about such a development but a crypto media outlet has recently cited an anonymous source to write that the company is considering the creation of a public-private blockchain network, powered by a “Samsung Coin”, a native cryptocurrency to boot.

These are still rumours as no official confirmation seems to be coming as of now, but going by the old adage “where there is smoke, there must be fire”, we cannot help but eagerly anticipate the launch of such a Samsung mainnet.

According to the anonymous source cited, it seems that the project is already underway, and is being worked upon by the firm’s blockchain wing, which is dedicated to exploring Samsung’s association with blockchain technology. The mainnet is supposedly going to be based on the Ethereum blockchain. This blockchain is expected to be linked to a brand new crypto asset, apparently named the “Samsung Coin”.

Whether Samsung Coin will be launched in the crypto market for trading or not is something that has not been decided by the company as of yet, and that is the statement that was reportedly given by the anonymous source familiar with the development plans. Even though the company itself does not seem to be letting the cat out of the bag anytime soon, the rumours come at a time when it has already exhibited its affinity for the blockchain space.

While this hybrid blockchain is being developed, Samsung seems to still be going so far so far as its existing stake in the crypto and blockchain space is concerned. Last week, itself, it has invested in the smartphone wallet app ZenGo and is continuing to push forward with its enterprise blockchain service, Nexledger.

The company seems to be really broadening its horizons so far as its involvement in the crypto and blockchain space seems to be confirmed, and the new hybrid blockchain, if it becomes a reality, will just be a new addition to the list.

Rushali Shome

Rushali Shome is a history undergraduate with a keen interest in puns, politics and beyond. When not typing away furiously in the “Notes” section of her phone, she can be found trying to catch the eye of servers at restaurants or weddings for a second helping.

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