HTC is working on a next-gen 'blockchain phone'

HTC is working on a next-gen 'blockchain phone'

HTC's Exodus might be the world's second blockchain-powered phone.

The phone will reportedly feature a universal cryptocurrency wallet as well as a secure hardware enclave. What this means is that all of you cryptotraders will have no problems managing your "money" and accessing it via all sorts of avenues.

Blockchain smartphones are touted to offer better security and user experience by integrating cold wallet storage right into the phone and enabling direct trading of the native cryptocurrency with peers on the phone's network, without mining fees.

Heading HTC's blockchain experiment is Phil Chen, the creator of the Vive VR headset.

When the Exodus launches, it will support Bitcoin, Ethereum and a few other major networks, though HTC expects to add support for other cryptocurrencies in the future.

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There is no release date or price details for the Exodus at the moment.

"We envision a phone where you hold your own keys, you own your own identity and data, and your phone is the hub", HTC's Phil Chen said Tuesday at Consensus 2018, a New York City blockchain conference.

Exodus is expected in October. He left the company in 2015 to get into venture capital, but is now returning to HTC as Decentralized Chief Officer.

HTC has followed in footsteps of Sirin Labs who announced a blockchain powered smartphone a year ago. The big-picture idea, says HTC, is that this is a phone for the privacy-minded user. While the Exodus phone maintains a crypto-connection, its important to understand the basics of blockchain outside of cryptocurrencies to see how revolutionary this device could be. Cryptocurrency is an incredibly niche and volatile technology, and basing an entire phone around it seems like something only diehard blockchain enthusiasts will take to. Even with rapidly increasing awareness and interest in the cryptocurrency space, however, it's hard to imagine Exodus making much of a splash.