Smartphone manufacturer HTC has become the latest to pledge support for blockchain technology, following an announcement from the firm in recent days that it intends to launch a new blockchain phone.

The Taiwan-based electronics giant unveiled the plans at the Taipei 101 investment forum late last week, in a keynote speech on decentralisation delivered by HTC Decentralized Chief Officer Phil Chen, according to Taiwan News.

The phone, a second-generation blockchain device, is set to be commercially available by the second half of 2019, which the firm hopes will expand its presence within the global blockchain sector.

Chen said that while blockchain technology was still developing, it was already changing the world, with the promise of “tremendous commercial potential” in the future.

The HTC executive was quoted by the Central News Agency saying that the value of blockchain as analogous to the commercial value of petroleum from the early 20th century, in terms of the impact he expects blockchain to make on a global economic scale.

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