With its latest flagship smartphone, which is filled with crypto features and functionality, Samsung may have won the “SmartPhone war” this year. The Samsung Wallet was unveiled at Samsung’s “Unpacked 2022” virtual event, which also featured the launch of the Galaxy S22 Ultra smartphone.
The wallet was described as having the ability to “access and study complicated digital products” like cryptocurrency. According to sources, it can also securely store personal credentials including student IDs, driver’s licenses, and state IDs, as well as digital keys, credit and debit cards, airline permits, and vaccination data.
Samsung Pay, the company’s own payment platform, will function with the secure payment wallet. Samsung’s Knox Vault platform provides security by encrypting sensitive data and blockchain keys and isolating them from the phone’s main operating system.
In the Decentraland Metaverse, Samsung revealed their new Galaxy devices at a virtual Samsung 837X venue. More than 100,000 people registered for the virtual event, which included the opportunity to pre-order the new premium cell phones.
In early January 2022, the firm made its Metaverse debut by launching its flagship 837 store in collaboration with Decentraland. “This is one of the largest brand land takeovers in Decentraland’s history,” the company claimed at the time.
Samsung has also entered the world of non-fungible tokens (NFTs). BeInCrypto announced in early January that its 2022 TV collection will handle NFTs natively, allowing clients to purchase crypto art directly through a platform on the company’s smart TVs.
The South Korean central bank’s digital currency experiment will be embedded into Samsung’s flagship cell phones, according to reports from August.