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The advent of Bitcoin is fueling the evolution of financial technologies, including telecommunications, and hardware with crypto-friendly features. The latest innovation, HTC’s cryptophone Exodus 1, will hit the market in December 2019. This device performs both as a smartphone as well as a Bitcoin cold wallet.
Chen: “For the smartphone category to grow again, we need more adoption of cryptophones.”
HTC Corporation, a Taiwanese phone maker, is shifting its business strategy towards new technologies. In this regard, Phil Chen, HTC’s chief decentralized tech officer, told CNBC that HTC sees the opportunities that the crypto space offers to reinvigorate the smartphone market. Chen explained,
If we’re going to make the leap to Bitcoin from fiat money, we’re going to need a device to do that.
Meet the EXODUS 1s, a cryptophone for all. pic.twitter.com/RsBs7eg2gm
— HTC EXODUS (@htcexodus) October 19, 2019
Initially considered a gimmick by some, crypto technology is the next frontier of smartphone innovation. For the smartphone category to grow again, we need more adoption of cryptophones.
Thus, on October 19, 2019, HTC launched a smartphone that integrates Zion, an HTC developed electronic wallet. To enhance security and keep the user’s digital assets safe, Exodus 1 isolates the crypto area from the Android operating system.
As a result, the smartphone Exodus 1 functions as a hardware cryptocurrency wallet using Zion. Zion allows users to keep their private keys in a secure Trusted Execution Environment (TEE). Login is not required, and Zion does not collect user’s personal data. The HTC team argues that Zion is more secure because
“Zion utilizes the TEE to generate and keep your keys safe, even from the Android OS. The Zion trusted UI creates a safe environment for when you need to authorize a transaction with your crypto assets so that malware running on your phone’s OS cannot steal your information.”
Thus, the Exodus team claims that Exodus 1 users can easily and safely exchange and store cryptocurrencies on the phone, protected from hackers and malware attacks.
Exodus 1 Can Only Be Bought with Cryptocurrencies
Besides functioning as an electronic wallet, the smartphone Exodus 1 includes:
- A 16-megapixel dual main camera and an 8MP dual front camera with 4K video.
- A six-inch display with a Quad-HD+ resolution.
- A Qualcomm Snapdragon 845 processor.
- Six gigabytes of RAM and 128GB of storage.
The cryptophone can only be bought with cryptocurrencies. The pre-order price is 0.15 BTC or 4.78 ether tokens. HTC plans to ship the phones by December 2019.
Do you think blockchain-based phones will impact Bitcoin adoption? Let us know your thoughts below!
Images via Bitcoinist Media Library, HTC Exodus
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