Foxconn to manufacture world’s first blockchain-based smartphone, Finney

Finney, the blockchain smartphone will be designed to store and use digital currencies like Bitcoin.

Foxconn will manufacture Sirin Labs’ blockchain smartphone.
Foxconn will manufacture Sirin Labs’ blockchain smartphone. (REUTERS)

Swiss-Israeli technology firm Sirin Labs said that FIH Mobile Ltd, a subsidiary of world's largest contract electronics manufacturer Foxconn, will manufacture its Finney blockchain smartphone, which is designed to securely store and use digital currencies such as bitcoin in fee-less transactions.

Finney, the world's first blockchain-based smartphone, can automatically convert tokens for the use of decentralized applications, without having to obtain the different tokens through an exchange, Sirin said.

The company raised $157.8 million in an initial coin offering in December to support the development of an open source blockchain smartphone, as well as a blockchain personal computer.

Sirin plans to sell the device through eight new stores located in Vietnam and Turkey and has so far more than 25,000 units preordered, according to a Bloomberg report.

Sirin aims to ship from 100,000 to a few million units this year, the report said.

The report also stated that Huawei is working on a blockchain-ready smartphone which will run on Sirin Labs' operating system, SIRIN OS based on Android OS. The smartphone will be equipped to run blockchain applications. ALSO READ: Huawei is reportedly planning to develop blockhain-ready smartphone

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