Finney, Your Next Potential Smart Phone
Finney, Your Next Potential (Blockchain) Smart Phone
Foxconn Technology Group, one of the largest Taiwan based manufacturer of electronics such as Playstations, iPhones, and Kindle, is looking to jump into the Cellular Blockchain market. A sub-division of Foxconn is partnering up with a Switzerland based electronic manufacturer called SIRIN LABS to develop a secure blockchain phone labeled “Finney”.
SIRIN LABS was founded in 2014 and released their first phone in 2016; called the SOLARIN. The SOLARIN as stated by SIRIN LABS “incorporates state-of-the-art hardware and security technology, 24/7 cyber protection, and includes a private zone for encrypted calling and messaging”. The SOLARIN is viewed as one of the world’s most secure phone currently in the market.
The development and production of Finney would be handled by Foxconn while the operating system and design would be handled by SIRIN. This partnership would allow the phone to run a secure proprietary operating system which SIRIN developed for their SOLARIN phone.
With recent news of data breach and hacking of coin wallets, security has been a major concern for miners. For the Finney, accessing of any coin-related operations on the phone would be done via a switch on the phone as mentioned by SIRIN. Currently, keying in private keys and complex address is the norm of how users would verify their identity but eventually, users may have the ability to verify through bio-metric and passwords.
Aside from security, the development of this complex system with the integration of blockchain is another barrier. The white paper of Finney stated that there would be a development of its own blockchain network. The blockchain network would allow users to process transactions. An example of a transaction would be selling users without Wi-Fi, internet access through payment of tokens. The blockchain network would also allow users to convert cash into tokens to purchase such products online or other services.
Alongside the development of Finney, SIRIN is looking to license its technology to other manufacturers so that the price of Finney could be lowered. SIRIN is looking to capture as much of the market as possible before their current competitors such as Zippie and BitVault.
With developers such as SIRIN, Zippie, and BitVault developing more secure and easier access to blockchain in daily life, the integration of blockchain into daily life seems closer. Investing now in cryptocurrencies while it is still in its infancy stage would be the optimal choice.