Blockchain phones… the next big thing?

Every year, the tech giants play a gimmick on the gullible consumers and sell them the next big thing. New phones, new cameras, larger screens, and oh-so-better than their market competition, we know the drill. But, what if I were to tell you, that after years of unoriginal production, something new might just be coming to the market.

Enter, HTC’s Exodus and Sirin Labs’ Finney. These ladies and gents are blockchain phones.

The news has recently been marred by various breaches of security, in the form of hacking, where the data of millions of users were put at risk. These instances of security breaches have razed tech giants in its wake, Apple, Google, and Facebook, to name a few. As a result, people are increasingly growing suspicious of the mainstream data controller’s ability to keep their data safe. In a high internet run world, data security and privacy is a big concern, for all involved, especially when they make a Black Mirror episode and scare the fuck out of us all.

At first, as is the case, with all new things, the concept of blockchain phones would raise many eyebrows.

Just the way you would feel insecure carrying a big wad of cash in your back pocket, you would not want all your savings tucked away in your pocket.

These phones, offer cryptocurrency wallets, but they are not overly glorified wallets. They employ something called the ARM’s TrustZone chip. It employs a system-on-chip and CPU system-wide approach to security with hardware-enforced isolation to establish secure endpoints and device root of trust. Long story short, it’s safe as hell!

Sirin Labs’ phone, on the other hand, has a second screen, which can be revealed when the phone is slid up. That cuts off all unencrypted communications and ensures that the digital storage is inaccessible, thereby, transforming it into a cold storage wallet, with just one flick.

While both companies employ different technologies, the end-game is the same. They are aiming to launch the phones at the end of this year, with the hopes of coming up with a solution for the privacy woes of the modern world. Which should enable its users to take back control of their own identities in the digital world. We got the power!

These nifty little hardware devices should enable you to keep your data safe, away from prying eyes and minds. Decentralizing the data would make it much safer because your data would not be stored centrally at a big corporation’s HQ, which effectively makes for a sitting duck. An easy target for hackers.

The discussion on paper seems all for blockchain phones. The benefits add up, and at the least, in theory, the phones offer a win-win situation to the consumers. The real world functions differently. The reason it was Steve Jobs, and not Wozniak, who propelled Apple to its heights, is Jobs’ ability to market products the right way.

The question remains, would it be popular with the end consumers? A lot of people might just view it as a gimmick phone, which offers no real use. Keeping in view the popularity of the blockchain tech, and cryptocurrency in general, these phones might prove to be useful to the crypto-purists, tech enthusiasts, but the general public might not be enticed enough to buy it.

The rise of Blackberry was attributed to the amazing security features it provided, fused into it’s BBM messenger. Surely, security was the concern for people in those times, and it still is a concern now, even more so, considering we spend an average of 23 days a year on our phones. Damn! That’s a lot.

With most transactions taking place using our phones, and our world getting increasingly digitalized, blockchain phones might just be the very thing we need. Whether they would be as popular as the next iPhone, only time will tell.

Soha Ali

As vanilla as it sounds, a filmmaker in the making. Soha brings the irony out of the crypto world by contributing to the Unfiltered section of BlockPublisher. Contact the editor at editor.unfiltered@blockpublisher.com

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