Crypto News India

Samsung Representative Commented On Rumors About Samsung Coin

Last week, rumors that Samsung plans to launch its own cryptocurrency were discussed very actively. The situation was clarified by the head of business development and fintech at Samsung SDS in Europe, Moritz von WIDEKIND, who said that the company is really discussing this issue.

He answered journalists' questions at the Blockchain Expo in London and clarified that, although the company is considering Samsung Coin, the use and design of the token is still unclear at the moment. Its purpose will undoubtedly be something to do with customer loyalty. The work is in progress and carried out by several divisions of Samsung, and if the creation of the coin is finally confirmed, it will be controlled by the electronics division in South Korea.

“Samsung is a huge organization and everyone within the organization works with blockchain, to a certain extent. We are building this multi-use case enterprise platform, which of course, can be used by any Samsung entity, but it doesn’t have to be,”

The South Korean electronics giant has long been interested in cryptocurrency, as it is clear according to the latest version of the Galaxy S10, as well as numerous investments and partnerships of the company. Rumor has it that the blockchain division was creating a network based on Ethereum, which led to conclusions about the development of cryptocurrency.

BlockFi Cuts Minimum Deposit, Launches Crypto Lending in India

Currently, the show will also be available on YouTube. However, the team is in talks with different streaming platforms for a broader coverage.

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Crypto-News India

There is always two sides of a coin. Bitcoin is no different. Crypto world is always full of good news and bad news. In India, leading crypto exchange Unocoin had to lay off 50% of its staff citing low volume transactions and the RBI, in its quest to support innovation, came up with a draft framework for the regulatory sandbox which would support blockchain, except for cryptocurrencies and crypto assets.

The Reserve Bank of India, or RBI, embodies the same class of thinktanks that order lime water without the lemons, chicken tandoori without the chickens, and blockchains without the bitcoins.

Blockchains –

The National Payment Corporation of India (NPCI), an RBI-backed umbrella organization for operating retail payments and settlement systems in India, announced that it was considering using blockchains to improve their payment network. The national body received support from ten banks in India. Meanwhile, it released a notice inviting bidders to propose their blockchain solutions as their potential “Liaisoning Consultants.”