Sirin Labs To Manufacture Its Blockchain Smartphone Soon

Sirin Labs Has Found A Manufacturer For Its Blockchain Smartphone

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  • Sirin Labs intends to launch the first blockchain smartphone.
  • FIH Mobile agrees to manufacture the blockchain smartphone for Sirin Labs.

Switzerland: Finally, Sirin Labs, the operating system supplier, and developer of Blockchain-oriented electronics, who aims at launching own blockchain-enabled smartphone has found a manufacturer, FIH Mobile, according to a report yesterday.

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FIH Mobile is a subsidiary of Foxconn Technology Group and has established a contract with Sirin Labs to help it develop the supposedly first Blockchain-enabled smartphone, called the “Finney”.

Foxconn Technology Group, a Taiwan-based multinational electronics contract manufacturing firm. Foxconn is one of the major employers of labor globally, with Amazon, Huawei, Cisco, Google and Apple as some of its major customers.

Finney – the blockchain-enabled phone will be built to help users to store and use cryptocurrencies more securely. Moshe Hogeg, CEO for Sirin Labs said that with the current traditional means of storing cryptocurrencies, the use of cryptocurrencies is unintuitive and difficult:

“…the mass market would never get it. There’s no chance my mom can figure out how to use Bitcoin, and my mom is smart.”

Finney will integrate lots of different cryptocurrencies, and allows users to transact on cryptocurrency-friendly websites such as Expedia and Overstock.com, where users can convert fiat currencies into needed cryptocurrencies. Moshe added that Finney’s users may ultimately give up complex wallet addresses and intricate private keys, for more advanced security features like identity verification with fingerprints, iris scan, or well-crafted password.

Last December, Sirin Labs raised $158M for this project through an ICO after $70M in initial investment. By October Sirin Labs intends to ship the first Finney units to 8 new shops in crypto active communities such as Vietnam and Turkey. Sirin plans to license the technology to other smartphone makers, as this would reduce the price of the device and make it more available.

There was a report in March that Huawei had meetings with Sirin possibly as regards the license for its OS. Though the consumer electronics company confirmed on its Telegram channel that the discussion took place, however, no comprehensive announcement was made as regards the meetings.


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