Some months ago we heard what the specs for the upcoming Finney phone would be and now Sirin Labs has given us a release date. In just a few months you will be able to pick up the first affordable cryptocurrency phone.
The phone takes its name from the late Hal Finney, the first recipient of a bitcoin, and boasts 6 GB RAM with the same processor as the Samsung Galaxy S9. This is no gimmick: a serious blockchain phone is entering the market.
Sirin has launched a phone before, though at an eye-watering $15,000 price tag the Solarin was definitely not meant for the mass market. The Swiss-Israeli startup will price the Finney at $1,000—again, very close to the price that the S9 usually retails for.
This is planned to be an entry level device for people new to cryptocurrencies and will hope to make it easier to invest than ever before. It also brings considerable value in its security; in theory, it can’t be hacked with multiple layers of security.
The Finney acts as a cold wallet for your cryptocurrency, kept separate from the rest of your phone and allowing transactions to be sent from an encrypted section of the software. The cold wallet is accessed on a pop-up screen and is closed off from the main phone by a firewall.
Foxconn, who employ over a million people and have worked with major brands such as Apple, Google, Sony, and Nintendo, will be responsible for manufacturing the Finney. It can be bought in Sirin stores in London, Tokyo, and the USA.
Their plan is to eventually build a peer-to-peer network from each Finney cryptocurrency phone and they expect to sell over 100,000 of them. With the hardware that it packs and in-built security measures, which will probably make mobile trading much more seamless, it could be many more this.
There is clearly demand for the device because Sirin Labs’ crowdsale last year raised nearly $158 million US dollars. They’ve not been inactive in marketing their brand either; Lionel Messi is just one of the stars associated with the phone.
I’m looking forward to seeing the advert. Perhaps so are the hundreds of thousands of his social media followers who might have taken one small step closer to cryptocurrency adoption through the credibility provided by a global superstar.
The Finney cryptocurrency phone could be a massive success, but beyond that, it might just prove to be a catalyst to an accessible cryptocurrency market for all.
Callum reports on developments in the cryptocurrency world and offers a take on the future of the blockchain. Can often be found with a cup of tea reading an altcoin whitepaper.