Samsung Galaxy S22 will have a crypto wallet. Samsung’s new Samsung Wallet was announced during its “Unpacked 2022” virtual event, which also saw the debut of the Galaxy S22 Ultra smartphone.
According to news reports, the wallet can “access and explore complicated digital goods,” such as cryptocurrencies. It may also safely store personal identification, including student IDs, driver’s licenses, and state IDs, as well as digital house or car keys, credit and debit cards, boarding passes, and vaccination records.
Samsung Galaxy S22’s crypto wallet
Samsung Pay will be used to make payments through the safe payment wallet. Samsung’s Knox vault platform, which encrypts sensitive information and blockchain keys, and separates them from the phone’s basic operating system, provides security.
Samsung’s new wallet is in direct competition with Apple Wallet, which also keeps sensitive personal information safe. Samsung, on the other hand, allows cryptocurrency asset storage and payments, whereas Apple does not.
Samsung, on the other hand, offered very little information regarding crypto functionality, supported tokens, and asset storage architecture in its Feb 10 media release.
On February 8, Apple announced expanded functionality for its own Apple Pay system, including the option to utilize “Tap to Pay” on iPhone.
Merchants in the United States will be able to accept contactless payments using Apple Pay, according to reports. However, there is no support for cryptocurrencies because Apple remains unconvinced about them.
Samsung and crypto oriented technologies
The new Samsung Galaxy phones were unveiled in the Decentraland Metaverse, which is known as the “Samsung 837X.” More than 100,000 people attended a virtual event where they could preorder the new premium smartphones.
In early January, the business made its debut in the Metaverse, with a flagship 837 location in collaboration with Decentraland. “We consider this one of the most significant brand land takeovers in Decentraland’s history,” it added at the time.
Samsung has also ventured into the non-fungible token (NFT) market. According to reports, Samsung’s 2022 TV lineup will natively support NFTs, allowing customers to buy crypto art directly through a platform on their TVs.
In August, it was announced that Samsung’s top smartphones will include the South Korean central bank’s digital currency experiment.