Electronics company Samsung has filed a U.K. trademark for a new crypto wallet. The trademark was filed on Thursday, December 27 with the U.K. Intellectual Property Office.
Samsung is also including smartphones, tablet computers, portable computers, computer software and mobile telephones with the crypto wallet in its registration paperwork.
Crypto Goes Well with Technology
The company stated in its filing:
“Computer software for use as a cryptocurrency wallet; computer software for cryptocurrency transfer and payments using blockchain technology; computer application software for smartphones, namely, software to allow users to transfer cryptocurrency based on blockchain technology and pay via third party’s application software.”
Previously, Samsung had denied rumors that its Galaxy S10 phone possessed its own cryptocurrency wallet, though earlier in the month, the venture filed three different trademark applications with the European Union for both blockchain and cryptocurrency-based software.
This isn’t the company’s first outing into crypto territory. Last summer, Samsung announced that it would be using CopPay – a multi-cryptocurrency payment platform for both consumers and businesses alike – to accept digital asset payments for goods and services in the three Baltic States (Lithuania, Estonia and Latvia). Customers living in those countries could now purchase smartphones, television sets, laptops, tablets and other Samsung products using virtual currencies like bitcoin, Ethereum, Ripple’s XRP, Dash and Litecoin.
CopPay announced:
“Our goal is millions of CopPay virtual terminals installed and functioning around the world. CopPay makes it simple for merchants and service providers to become a part of the growing cryptocurrency economy and attract new clients.”
The company further stated that it possessed the “global infrastructure” to allow cryptocurrency payments in the first place.
Despite regular price drops in the likes of bitcoin and its altcoin cousins, there appears to be a growing pressure amongst traditional companies to get involved in the digital asset space. As time goes by, we are seeing more and more companies that have little or nothing to do with digitization or technical finance step into the ring with crypto.
More Businesses Will Lead to Legitimacy
Recently, Madison Holdings Group – a Hong Kong stock exchange-listed wine company – announced that it would be purchasing a 67 percent share in BitOcean, one of Japan’s leading cryptocurrency exchanges. The purchase is alleged to cost more than $30 million.
This suggests that many companies – despite regularly falling prices – see crypto as the wave of the future and are eager to get a piece of the action before things get too expensive or the space is overrun. The more these businesses get involved, the more legitimate the space will become.
Are you excited about Samsung’s latest blockchain developments? Why or why not? Post your comments below.
Image courtesy of Shuttershock