Electronic giant Samsung has been rumored to be creating its own blockchain network and cryptocurrency, a source familiar with matter told CoinDesk.
Sources said Samsung is eying established cryptocurrency Ethereum as inspiration to develop its own cryptocurrency. However, the work is still in the "internal experimental" stage.
"Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid. The market expects Samsung Coin to come out, but the direction has not yet been decided," the source told CoinDesk.
If Samsung chooses the public route, its coin could be exchanged among Bitcoin and Ethereum. The report suggests Samsung could also incorporate the blockchain technology into its payment app, Samsung Pay.
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