HTC is working on releasing a new blockchain powered smartphone shortly. However, some people have been wondering what exactly a blockchain smartphone is and what sets it apart from standard smartphones that are available on the market? Will it be a success or it a phone reserved for a small group of people interested in cryptocurrencies? Today we will be talking more about this phone and what will it bring to the market which has never been seen before.
The Taiwanese company has not seen the level of sales that it thought it would have on the market. This has inevitably lead to HTC encountering a steady decline on the smartphone market. Will this change in the future?
HTC Exodus – More about the phone
What makes Exodus so unique? Well, HTC’s Exodus is already starting to be marketed as the next blockchain powered smartphone on the market. But what is blockchain powered smartphone exactly? Well, from what we have seen on Exodus’ landing page this phone is meant to bring security and cryptocurrency support. The primary goal is to expand and support the blockchain market by giving users a safe device to use to trade cryptocurrencies between one another.
The phone will be dedicated to decentralized applications and a safe and secure wallet application through which one can share a host of cryptocurrencies.
First phone on the market to do this?
Sadly, HTC is not the first company to have thought of creating a phone focused on these features. The first company to have done. This is Finney, a phone built by Sirin Labs. Their phone is meant to allow people to store and use digital currencies by getting rid of the transaction fees that one usually has to pay. Finney was first announced in September of 2017, and it will launch on October this year. The price of Finney is set at one thousand dollars. Not everyone will be able to afford it but then again, this phone is not meant for the mass consumer, it has features that only a specific community will be interested in, that of cryptocurrency users.
Both Sirin Labs and HTC are anticipating that shortly the cryptocurrency market is going to gain more momentum. In recent years we have seen crypto coins evolve from being used only in specific online settings to now gaining a stable position on the market. Yes, things are not yet as good as they could ever be but we hold hope for the future.
Release date, price, and availability
HTC Exodus does not yet have a precise release date set in stone. Even more, we do not even know the cost of the phone. We can expect it to be similar to that of Finney, but that remains to be seen.
It is interesting to note that HTC is considering to allow people interested in this device to purchase it with cryptocurrencies. However, if you cannot wait to get your hands on Exodus, then you can reserve it online if you want to.
The vision for this phone
The phone will have a universal wallet and the hardware support for cryptocurrencies and decentralized apps to boot. HTC’s main goal is to create a network where each Exodus phone user will act as a node, allowing them to trade these crypto coins between one another.
Phil Chen, HTC Vive founder, has stated during Consensus 2018 that with this phone you will be able to “hold your own keys, you own your own identity and data, and your phone is the hub.”
Chen has also added that the phone will support some cryptocurrencies such as Bitcoin, Ethereum, Dfinity, Lightning Networks and others to be added in the future. Chen’s primary goal is to be able to have Exodus support every existing blockchain coin available on the market at the moment, but that remains to be seen.
The purpose of this launch
We would also like to talk more about what might push a company to release a blockchain phone. Since the Taiwanese company is the second one to make this bold move, it is only natural that we discuss this. Most companies look for more profits by coming up with a phone that caters to this niche of users since their position on the market is not very stable. Others look for novelty, and some even want to save their backs.
It is not yet evident in which category HTC might fit it. Since it just laid off a significant portion of its US staff and it merged a couple of divisions of the company we believe that it might fit in the latter.
Exodus – savior or disappointment
Now, we cannot openly say whether or not Exodus is going to be a big hit on the market as of yet. We will have to wait to see how well the phone is going to be sold after it is released. However, we do not believe that it will make much of a splash on the market. The problem with Exodus is that the features that it bases most of its marketing on can be added to a regular phone without much of a hassle.
Moreover, trading Bitcoin or other cryptocurrencies will still come with mining fees, even if you use a regular smartphone to do this or Exodus. Yes, Exodus will focus on security and fiving the user the option to be in control of its data but will that be enough to sway buyers to purchase it?