HTC Corporation, a global consumer electronics company is set to launch the very first blockchain-enabled phone and has opened pre-orders for the new product. Fun fact, the new EXODUS 1, HTC’s brand new innovation, can only be paid for in cryptocurrency.
The company has recently announced that orders will be taken for the EXODUS 1 followed by the shipping process which may start by December. It is also confirmed that the new product can only be bought in cryptocurrencies. This new innovation is available for consumers of the following countries; US, UK, Hong Kong, Singapore, New Zealand and approximately 30 other countries.
To enhance the new device, HTC has called for experienced developers to participate in the early-access version of the EXODUS 1. The global brand has urged the blockchain community to provide feedback so that the company can make required changes in the early-access version of the device. The feedback may help HTC understand the mindset of their desired target market, the expectations of their consumers and the features which must be added in the new device.
The Chief Officer of HTC Corporation, Phil Chen, stated in an interview,
The goal is to start with the blockchain community and get their assistance in making our wallet and the technology even more secure, in essence testing it out and providing feedback and suggestions [and] solutions
The purpose of the early launch for a confined market (to start with) is that it may help HTC bring improvements in the device which may provide HTC the opportunity to achieve success in the new industry and meet the expectations of their consumers.
Moreover, he added:
Recent figures show that there are around 35 million wallets out there at the moment. The HTC EXODUS 1 is about getting the consumer used to owning their own keys and going from there to develop the EXODUS into a device that can be for the broader market.
HTC Corporation aims to go big in the industry for which they need to make sure they are taking the right first steps. The world of crypto is filled with millions of wallets at the moment, and to further expand their market they want their customers to adapt to their own identities and then enhance their device into something which may target a larger audience and gain attention. However, questions have been raised that what actually might be the purpose of the introduction of a new crypto phone? Will it make the functions safe and secure? Maybe, maybe not.
Recent hacks in Japan worth $532 million have made everyone in the crypto industry more cautious towards new developments, so how can HTC guarantee safety and protection to their consumers for their wallets?
HTC offers the use of a quarantined section of ARM-based processors called TrustZone to store the cryptocurrency IDs. Similar to those of Android and iOS to secure bio-metric information through Secure Enclave.
For this matter, a known computer scientist at Carnegie Mellon University, Vipul Goyal said:
A private key protected by special hardware architecture and OS interface can be far more secure than one stored by a wallet app downloaded from an app store
Vipul’s opinion on the matter clearly mentions that the new processes lined-up to be introduced by HTC might prove to be safer than downloading applications from different online stores. He further stated:
Another advantage could be battery efficiency. If common blockchain operations are supported natively by the hardware and OS, they could consume less battery. For the same reason, these operations could also be much faster.
It is true that a specially designed interface may provide efficiency in functions and might also help consume less battery. Since a regular mobile phone device has its own functions followed by usage of different applications at the same time, it is quite obvious that the battery usage of the smart phones may not be as sufficient. However, an in-built TrustZone can provide this leverage to consumers and speed up their operations.
Still, every other thing in technology has loopholes nowadays that can be exploited and same is the case with TrustZone. Safety threats surround this innovative functionality, however, HTC’s Chief Officer, Phil Chen is confident that it is the best so far. We take your word for it, sir.
So, we can end this discussion on a positive note that the new crypto phone assembled by HTC may prove to be a success in the crypto industry based on the knowledge that it may provide safety to wallets of millions of consumers and help their processes work smoothly. If not, too bad then.