Most mobile phones on the market today come from the Asia Pacific. In fact, either a mobile phone maker in the region manufactured it or it was assembled in a manufacturing hub. As you are probably aware, the major manufacturing hubs in the region are China and Taiwan.
Currently, there is a growing trend of handheld devices transitioning from smartphones to blockchain-based phones. Regardless of the direction the industry assumes, the Asia Pacific region is likely to maintain its lead as manufacturers’ destination of choice. There is no question that blockchain-based phones give digitally inclined founders (entrepreneurs) a rare opportunity to do amazing things.
What entrepreneurs must know
Most founders tend to associate the blockchain with digital currency. Also, the two major approaches to blockchain-based phones either has a connection to functional lineage or goes beyond it. Obviously, the first batch of these devices will target those in the cryptocurrency world.
Typically, there is Finney by the Swiss company, Sirin Labs. According to reports, Taiwan-based Foxconn will manufacture the blockchain-based phone. Similarly, mobile phone maker HTC announced its first-ever blockchain-based phone, Exodus. No doubt, the features on these phones suggest that the makers are targeting cryptocurrency traders.
Exploring the details of blockchain phones
Let’s look at Finney closely. The phone offers its users a built-in storage wallet for cryptocurrencies. That’s not all. It also has a second touch screen that slides up, indicating that it is secure to transact with another cryptocurrency holder.
Considering Exodus, the blockchain-based phone offers native digital currency recovery in an event where a user loses their cryptographic keys. Additionally, it has the functionality that allows users to mine cryptocurrencies. That’s a lot in one package for the cryptocurrency community. However, HTC made it crystal clear that the mining power will be nothing compared to standalone cryptocurrency mining rigs.
Indeed, these phones offer exciting features just like exchanges and widgets. What’s even more fascinating is the features that Singapore-based PundiX is bringing to the blockchain-based phone’s world. According to PundiX, their XPhone, will do everything that today’s smartphones are capable of and more. The most interesting aspect of it all is that it won’t require any telecom carrier to function.
Opportunities in decentralized Apps (dApps)
These phones are miles ahead of today’s smartphones due to the built-in makers to run dApps. Therefore, while smartphones run on a single device, blockchain-based phones will run on many different nodes. However, each blockchain-based phone manufacturer has a different definition of decentralized applications (dApps).
In fact, blockchain-based phones will be significantly beneficial the business world. It will be useful to entrepreneurs in more ways than one. In fact, while the smartphone stores have been saturated with apps, developers (entrepreneurs) have the opportunity to design and publish dApps for blockchain-based phones.
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