The Vault Within Your Smartphone

You recently bought a Tesla car, and although you don’t understand how it works, you’re happy about whatever’s under the hood because of a smooth, seamless driving experience. The same thing applies to the Blockchain[1]. What’s interesting to mass-market users is not the technology per se, but the value it holds.

Cryptocurrency and Blockchain are buzzwords in today’s digital realm associated with Bitcoin, ICOs and digital wallets. Average consumers don’t need to know how the technology works. They want to know how to reap the benefits.

The vault in the smartphone

The mobile phone is no longer a device for chatting with friends and family. It has grown into a smart device used to perform a wealth of activities. There’s an app for everything. But when we put Blockchain technology and smartphone side by side, we notice that there’s a glitch. There’s no killer app for Blockchain-based activities, no holistic approach to benefit from the perks of the Blockchain without worrying about security.

There’s potential for storing and transferring value with Blockchain technology. But not all decentralized apps[2] are not fully-functional from the average Android or iOS smartphone. Mass-market consumers who trade Bitcoins or buy apps, for example, want excellent user experience At the end of the day, their goal is to make a profit; and that profit can be in the form of cryptocurrency, game, app, etc.

The Blockchain-powered pocket-sized mobile computer

80% of the world owns a smartphone. It’s no longer a device to speak with other people but a digital diary we can’t live without. Things are changing at the speed of light in the digital era. Smartphones and Blockchain technology are neck in neck, although industry leaders don’t seem to want to merge them.

The next big thing could be a Blockchain-powered[3] pocket-sized mobile computer for mass-market users. Major smartphone providers are not ready to jump on the Blockchain bandwagon. The reasons vary.

  • High volatility of the crypto world

  • Fear of losing ground in front of main competitors

  • An uninformed target audience on the benefits of a Blockchain-powered smartphone.

A fee-less, hybrid payment network within your phone

There’s more to the industry than meets the eye. SIRIN LABS[4], a high-end company that makes luxury smartphones, begs to differ. For technology to be consumed by the masses, it has to be made accessible. The smartest way to streamline crypto-based operations is by listening to the voice of the crowd.

Both smartphones and Blockchain technology have gone mainstream. To connect these two in a way consumers can benefit from both, the key is to bridge the gap between decentralized apps and mass-market usage through a hybrid product. The solution can’t be 100 percent decentralized. It involves a physical product (smartphone) and Blockchain[5] (decentralized) to make ends meet.

Bridging the gap between UX and Blockchain technology

The Finney Project[6] aims to bridge the gap between user experience and Blockchain technology with an ultra-secure, fee-less Blockchain-powered smartphone accessible to the masses. The current generation of smartphones poses security risks, hindering user experience.

The Finney devices – a smartphone and potentially an all-in-one PC – are Blockchain-enabled and cyber-protected. They support both Android functionalities and top-notch cybersecurity technologies powered by SIRIN LABS. The upcoming Finney smartphone forms an independent Blockchain network, a lightweight, scalable distributed ledger powered by IOTA’s technology and SIRIN LABS’s OS.

The Finney Project is a SIRIN LABS product[7] – the company behind Solarin, the world’s ultra-secure smartphone – comes out with a crowdsale on Dec. 12. The aim of the project is to make Blockchain technology accessible to the masses through a highly-secured smartphone. Upon successful completion of the crowdsale, SIRIN LABS plans to develop a Blockchain-powered desktop computer, too.

Ioana Paicu

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