Samsung is developing their own cryptocurrency

The South Korean company Samsung is developing a hybrid network based on the Ethereum blockchain and further plans to launch its own token.

The source acquaintance with the activities of the technical giant told Coindesk Korea that the company’s IT division is already working on a number of decentralized projects. The team creates a closed network based on Etherium, but the fork is still at the internal experiment. The company does not exclude the possibility of launching a public blockchain, but the source is inclined to the hybrid model.

The Samsung representative also announced the plans to derive the Samsung Coin token. So far, this is only the sketches and the question will be considered only after the completion of the decentralized network.

If there is a public blockchain, the future cryptocurrency will be able to openly bargain on cryptocheges as Bitcoin and Ether. The company can also integrate the technology in the Samsung Pay payment application.

Since the beginning of the year, the South Korean giant presented a number of products related to the blockchain. In February, a smartphone came out

Despite the abundance of platforms, Etherumer continues to enjoy the greatest popularity of the business. French Financial Conglomerate Societe Generale Group