[2019-06-02] Samsung Pay Could Support Cryptocurrency, Whales Accumulating

[_Django05_]

Samsung may soon integrate cryptocurrencies in some capacity into its Pay network, which is an e-commerce/fintech platform that sports over ten million active users.

This would allow for the payment ecosystem to cut intermediaries out of the equation, thereby making payments faster and cheaper. Interestingly, however, the report did not mention if Samsung is considering adding its own coin or something like Ethereum.

https://www.newsbtc.com/2019/06/01/crypto-tidbits-bitcoin-taps-9100-samsung-pay-could-support-cryptocurrency-whales-accumulating/

[CryptoBry]

I am more inclined that Samsung will not be tempted to make its own coin or cryptocurrency as the market is already flooded with so many alternatives. Samsung should just consider integrating the top coins we already have. Of course, they can choose to have their own and make a splash into the cryptocurrency industry just like what Facebook is soon doing but of course let's hope they will not do the Mark thing as it is not actually needed.

[hugeblack]

When companies such as Samsung talk about Blockchain, it means facilitating bank transactions & When it comes to cryptos, it means Ribble or any central shitcoin.

If they want to support cryptocurrencies it is best to think about converting phones into HW wallets and then make it easy to make exchange something like (blockchain.info and Trezor) or HW build-in wallet/adds-on.

[joniboini]

Even if top 10 payment processor support crypto as a currency for payment, that means nothing if there's nobody who uses it. I'm quite surprised to see many headlines or news like this which put more emphasis on the number of payment processor instead of the actual users who would be happy to use crypto to pay something. Even if we assume that all crypto users right now would use it, the actual number and price effect would be debatable.

Adoption should mean increasing the number of users. Sure, this is good news (but not enough reason for 'whales to accumulate' imo), but hopefully, it won't stop at this point.