Girl smiling at her blockchain smartphone as she uses BitClout

Envisioning the next blockchain smartphone


 

At the moment, there are two worthy blockchain smartphones in the market. The Finney from Sirin Labs and the “Exodus 1” from HTC.  The demand for such smartphones are not quite there yet for obvious reasons including mainstream adoption of blockchain as a daily piece of technology that every one else on the street would know (see - https://innovationatwork.ieee.org/blockchain-smartphones-going-mobile/). 

This is how we envision the next blockchain smartphone will work.

Security 

First, it will have tip top security and anti-theft elements that will allow social recovery by the owner. The encrypted data can be wiped remotely by the use of the Seed Phrases just like a Ledger. The IMEI or International Mobile station Equipment Identity number is something that will also need to be kept separately paired. What we mean by this is that the IMEI number should identify the phone but seed phrases that contain private keys to the token assets should never be imprinted any where on the phone. In that sense, when a phone is stolen,international carriers can be informed to identify and disable the device.

Blockchain smartphone

However, the crypto assets are still granted hot or cold storage depending on what the owner wants to do at the point in time. Whenever the owner wants to work the blockchain assets, handle crypto transfers, staking crypto, participating in DeFi, etc., the DApps on the phone will interact with the owner and get assets shifted from cold to hot storage as with an exchange, for interfacing and interactions to take place. Before the owner logs out, the software will always remind the owner on the state of the assets and provide a summary so that the owner knows that the assets are secure in cold storage or are somewhere else secure, eg. Being staked.

 

Seamless interaction between blockchain and real-world

Second, the hardware components for blockchain and crypto focused utility will be akin to a “cold wallet”. The hot wallet features currently allow for the wallet to be left “online” and this was where Mt Gox took place. Bitcoin was hacked off by hackers. By allowing the interaction between the blockchain world to happen whilst giving the owner a complete control in taking the blockchain assets offline and shifted quickly to a cold storage, the smartphone would have fulfilled the basic function of at least guaranteeing some form of security. Already, the Finney has a “token conversion centre” and a dApps browser that are running on the Sirin OS platform specially designed to handle crypto and the blockchain.

Virtual SIMs

Thirdly, the next generation of blockchain smartphones are unlikely to stick to the type of SIM cards that we use. There is already a patent by Verizon that uses blockchain to create virtual SIM cards, where the vSIM will be locked to the owner’s ID and then used to activate the SIM. The entire process will be fully digital and with no need for material wastage for a physical SIM.

Social media

Fourthly, one of the pre-installed apps for social media is likely to be BitClout or its equivalent. BitClout is currently the first decentralised social media platform akin to Twitter, that rewards users and has created good traction with usage amongst a large and fast growing community. It will likely improve its architecture and design to allow posting of videos and other formats, perhaps even allow for calls.

 

Social media on blockchain - BitClout

Big players’ game

Fifthly, the next leading blockchain smartphone is likely to come from one of the big players in the market already. Why is that so? From a business standpoint, the sheer scale and profits accrued from the smartphone business shows that most of the industry’s profits and revenue are going to the top few players whilst the others at the bottom struggle for relevance and visibility. Blockchain tech is just an addition to their already successful smartphones and not something that is entirely revolutionary in nature that they will be disrupted. Samsung, Apple, will lead heavily in this venture as they already are right now.

 

How would you envision the next blockchain smartphone to be?

 

Yours,

Chief Editor

BBA Market Perspectives

 

*Not investment advice. Do your own due diligence before you invest!

 

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BBAMarketPerspectives
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