Phone manufacturers in China are rushing to bring Blockchain phones to market, but there is significant confusion over the technology itself.
Companies are doing rapid R&D work to bring the latest trending technologies into their products.. Of course, the main goal is to appeal to more people and provide more financial income. For this reason, many companies are making efforts to integrate their products into Blockchain technology.. You can read our Huawei news 4 days ago here.
Mobile phone manufacturers in China are in a hurry to make blockchain-related phones. Several companies have launched their products in the past few weeks, and other Chinese companies are developing their phones fast.
One such mobile phone is Sichuan Changhong Electric Co., Ltd, which was launched on March 16.. R8 Unicorn manufactured by. R8 is based on POW consensus algorithm with LBS location service and fingerprint technology. The phone is also said to allow users to save data on the Blockchain as well as engage in cryptocurrency mining.
Many big companies like Lenovo have started releasing their Blockchain phones
Lenovo Group, March 20 It launched the blockchain mobile phone Lenovo S5 in . The company claims that the phone has a Blockchain-based payment space, designated as the Z-space, which makes financial transactions much more secure.
However, it’s early to get too excited about Blockchain mobile phones. No further information regarding Lenovo S5 has been released at this time.. Also, Bitcoin mining cannot be done like R8 Unicorn. Industry analyst Lu Tianwen says that the phone company will mine the cryptocurrency and you will use it for rewards in return. A media outlet spoke to industry professionals about it. Experts stated that they are not clear on exactly where mobile devices are on the Blockchain and how it will function.
Lu Tianwen said that he sees all of these as trials aimed at catching up with the latest technology. He claims that phone makers only exploit humans and that cell phones are far from real security.
Shenzhen Stock Exchange and Shanghai Stock Exchange began sending warnings to investors, falsely claiming a Blockchain connection.. But it seems that many people are quite keen on pouring money into things with Blockchain.
Bitcoinist