Samsung Unveils New Digital Wallet: Will Store Crypto, Documents, Vaccine Records, and More

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Samsung Unveils New Digital Wallet: Will Store Crypto, Documents, Vaccine Records, and More For Hannah Perez

The new ‘Samsung Wallet’, available on the new line of Galaxy S22 smartphones, will allow “access and explore complex digital products“.

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The latest smartphone model from the electronics giant, Samsungwill come with an integrated digital wallet that will allow users to store a wide range of digital products.

The company announced the new wallet ‘Samsung Wallet’ during the event Unpacked 2022in which he presented his latest line of cell phone models: Galaxy S22.

The wallet will be compatible with all the models of the new series and will allow its users to store identity documents such as student cards, driver’s licenses and identity cards, as well as digital house or car keys, credit and debit cards, plane tickets and vaccination records.

The ‘Samsung Wallet’ also will allow its usersaccess and explore complex digital products“, including cryptocurrenciesdepending on the medium ZDNet. The company provided some details of the new product in a Press release in which they highlighted that the wallet is intended to make everyday tasks easier for users.

The Galaxy S22 series brings you Samsung Wallet, a seamless, convenient and secure experience to make your day-to-day easier. Samsung Wallet combines digital payment, identification, keys and asset management in one tool to simplify your routines, from showing your student ID to collecting travel documents before a flight.

Samsung Wallet will store a variety of digital products

Although the company did not mention digital currencies in the statement, it did highlight that the new range of phones will offer its users a safe and reliable experience thanks to technology. blockchain.

Galaxy S22 series user information is protected by the platform Samsung Knox Vaultwhich uses its own secure processor and memory. Isolate passwords, keys of blockchain and other confidential information of the phone’s main operating system to keep it more secure, said Samsung.

Some reports suggest that the wallet could be compatible with Samsung Pay, Samsung’s mobile payment service. Samsung. Nowadays, Samsung Pay offers similar storage features, with the exception of digital currencies. It also allows users to make secure payments. It remains to be seen if the storage functions will be moved to Samsung Wallet, leaving Samsung Pay to handle transactions. It is also unclear if it will be available for other models apart from the Galaxy S22.

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According to the press release, the wallet’s digital ID feature will be available later this year. For its part, the boarding pass and access ticket functions will debut first in South Korea once the product is launched.

In accordance with cryptonews, Samsung is not the only South Korean company that is working on wallet solutions powered by blockchain to allow the storage of documents and other digital products. An increasing number of South Korean businesses have begun to adopt digitized forms of documentation, which is almost universally stored in wallets not unlike those used elsewhere to store tokens cryptographic and non-fungible (NFT), noted the medium.

The new competitor of Apple Wallet?

The most recent announcement Samsung suggests that the company is taking a broader approach to providing financial services. Its main competitor, Manzana, has led the way in this area, with a range of payment products. This week, the tech giant announced a new feature called “Tap to Pay,” which will basically turn the iPhone into a point of sale.

About, ZDNet highlights that Samsung Wallet will position itself as the new competitor of Apple Wallet, the wallet of Manzana which allows users to store payment information and similar personal data. However, Apple Wallet does not currently offer a cryptocurrency storage feature or vaccination records.

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Rivals have been diving into the latest technology trends, as well as taking a closer look at the crypto space, to cater to new demands. Samsung recently opened a store in the metaverse of Decentralandwhich took advantage of this week to carry out a virtual presentation of its new line of cell phones.

Although the presentation in the virtual world did not seem to impress critics, according to a report from cryptonews, the company has shown itself to be more advanced than its rival in the metaverse sphere. All indications are that competition between the two major cellphone makers could be accelerating as cryptocurrencies, NFTs and the metaverse rapidly enter the mainstream.


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Article by Hannah Estefanía Pérez / DailyBitcoin

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WARNING: This is an informative article. DiarioBitcoin is a means of communication, it does not promote, endorse or recommend any investment in particular. It is worth noting that investments in crypto assets are not regulated in some countries. May not be suitable for retail investors as the full amount invested could be lost. Check the laws of your country before investing.

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