📱 Samsung gets serious about crypto

📱 Samsung gets serious about crypto 🏎️ Formula one plans to cash in on the blockchain craze with trademark filings 🔌 China to use blockchain technology to trade electricity

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📱 Samsung gets serious about crypto 🏎️ Formula one plans to cash in on the blockchain craze with trademark filings 🔌 China to use blockchain technology to trade electricity

Samsung gets serious about crypto

Samsung is no stranger to making big bets on emerging technologies. The company has been a leader in the smartphone market for years, and more recently it has been investing heavily in artificial intelligence and 5G.

Now, it looks like Samsung is turning its attention to cryptocurrencies. According to a report from one of the South Korean news outlets, the company is planning to launch its own cryptocurrency exchange.

This is a move that makes a lot of sense for Samsung. The company has already developed a strong presence in the blockchain space through its work on developing secure chips for use in cryptocurrency wallets.

It also has a large customer base in South Korea, which is one of the biggest markets for cryptocurrencies. If Samsung is able to launch a successful cryptocurrency exchange, it could become a major player in the global market.

This time, Samsung is finally making progress on its long-awaited crypto exchange launch – by hiring the right professionals to run it.

The company has been able to keep pace with developments in the digital asset industry, despite its previous setbacks.

Earlier this month, Samsung Securities partnered with Bithumb, the largest crypto exchange in South Korea. The tie-up means Samsung Securities customers can check the status of their crypto investments through Samsung’s own app.

With this latest development, it seems that Samsung is finally getting serious about entering the crypto space –  and that could be good news for the industry as a whole.

Formula one plans to cash in on the blockchain craze with trademark filings

It looks like Formula One is finally getting with the times and jumping on the blockchain bandwagon. The racing organization has filed for two trademarks related to non-fungible tokens (NFTs) and the metaverse, just in time for the Las Vegas Grand Prix in November 2023.

This move comes as no surprise , given the increasing popularity of NFTs and the metaverse in recent months. With this filing, Formula One is hoping to cash in on the growing craze and get a piece of the action.

It looks like Formula One is finally ready to embrace the world of blockchain and digital assets.  With these trademarks, Formula One will be able to offer NFTs, cryptocurrencies, and other financial services related to the race. They'll also be able to sell virtual clothing and gear to fans who want to show their support for the team.

This is a smart move by Formula One, and it will be interesting to see how they leverage these new trademarks in the coming months.

China to use blockchain technology to trade electricity

The China Energy Administration (CEA's) announcement is the latest sign that China is bullish on blockchain technology. Just last week, the country's central bank announced that it was working on a digital currency that would be based on blockchain.

Now, it looks like the country is also looking to use blockchain to trade electricity.

According to the CEA , the policy would look into the feasibility of small and medium-sized power generating and storage facilities serving local communities.

Blockchain technology's unchanging nature, according to the Institute of Electrical and Electronics Engineers (IEEE), may enable transparent and reliable power metering as well as evidence of transactions.

However, it remains to be seen how exactly this will be implemented in practice. The CEA's announcement does not give any concrete details on how the platform will work or how it will be integrated  with the existing power grid.

Nonetheless, this is a positive development for blockchain technology and its potential use cases in the energy sector. Hopefully, we will see more details on this project in the future.