Emerging blockchain technology is creating waves in a variety of industries and soon consumers will be presented with the first blockchain-based smart phone.
The device is being developed by Foxconn and has been named 'The Finney.' This phone enables consumers to preform a number of tasks, with the most impressive being its ability to store and use digital currencies, without a user having to pay transaction fees. In addition, The Finney can convert digital currencies, enabling a consumer to fluidly transition between various forms of payment.
Moreover, The Finney will allow users to create personal hot spots that other people can then rent out in exchange for digital tokens. Because of this phone's blockchain-based technology, users can exchange those tokens, and use them to shop online.
Blockchain-Based Smart Phones
The Finney Will Help Users Exchange and Spend Digital Currencies
Trend Themes
1. Blockchain-enabled Smartphones - The Finney, a blockchain-based smartphone, presents an opportunity for disruptive innovation in the smartphone industry by allowing consumers to store and use digital currencies without transaction fees.
2. Digital Currency Exchange - The Finney's ability to convert digital currencies offers a disruptive innovation opportunity for the financial and banking industry.
3. Decentralized Computing - Blockchain-based smartphones like The Finney can offer disruptive innovation opportunities to the telecommunications industry through their ability to create and rent personal hot spots using digital tokens.
Industry Implications
1. Smartphone Industry - The Finney presents a disruptive innovation opportunity for the smartphone industry by offering a completely secure and transparent way of storing cryptocurrencies.
2. Financial/banking Industry - Blockchain-based smartphones like The Finney can revolutionize the financial and banking industry through their ability to exchange and convert digital currencies.
3. Telecommunications Industry - The Finney, as a blockchain-based smartphone, presents disruptive innovation opportunities for the telecommunications industry by enabling decentralized computing through the creation and renting of personal hot spots with digital tokens.