Sirin Labs, the developer of the enormous $16,000 Solarin Android smartphone, is developing a blockchain phone and has chosen to construct its new device line named “Finney,” a blockchain smartphone series, to support a private blockchain from Ethereum (ETH), instead of IOTA’s Tangle distributed ledger technology, as initially stated in its white paper.
Sirin Labs to work with Ethereum (ETH) blockchain instead of IOTA’s Tangle for the blockchain smartphone
“We are not working with IOTA. We considered the option and decided to go our separate ways. At launch, we’re going to use Ethereum (ETH) blockchain. The Finney Phone will work through complete nodes that are hosted at Sirin Labs.” said Marketing Director of Sirin Labs, Nimrod May.
“Our plan since the release of our report has always been to migrate the SRN token and the Sirin Labs ecosystem to a next-generation chain of blocks,” Nimrod May added.
The Finney devices, including a blockchain smartphone and PC, will run on Sirin Labs’ open source OS, the Sirin OS. The Sirin OS will be engineered to handle native blockchain applications such as a cryptocurrency wallet, secure exchange gateway access, secure communications, and an ecosystem of peer-to-peer resource for sharing applications and payments, all of which supported by the SRN token.
The Finney devices will make up a stand-alone blockchain network
The goal of Finney devices is to facilitate people’s use of cryptocurrencies and associated services. In April, a branch of Foxconn Technology Group, the world’s premier electronics manufacturer, decided to help manufacture the Finney smartphone.
Foxconn will build the Finney blockchain smartphone series in-house, spearheading the original design and manufacture of the phone, while Sirin Labs will be leading the cold wallet hardware design and operating system development for Sirin.
The Finney smartphone, which will be available for retail sale for $1,000, will launch in November, while the Sirin Labs is planning to sell the device via eight new shops in locations with the most actively involved crypto communities.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.