Sirin Blockchain-Based Smartphone To Be Released In November

The team behind Bancor is back, this time with a blockchain-based smartphone. The Finney, as they call it, is supposed to be secure, but we have seen the same claims from the same people fall short before

Sirin Blockchain-Based Smartphone To Be Released In November
By Tabassum Naiz
Published Jul 24th, 2018

From healthcare to media, finance and now telecommunications, blockchain technology is being deployed everywhere. One area in which blockchain technology might have great potential – especially after Edward Snowden’s revelations about the way intelligence agencies collect information – is telecommunications, specifically the smart phone industry. Sirin Labs has taken a leading role in this area. This Swiss-based smartphone developer is releasing a brand new “Blockchain based Smartphone” in November.

Finney – Blockchain Mobile Technology

The Sirin Labs Blockchain Smartphone, Finney is a feature-packed Android smartphone with 128GB of storage, 6GB of RAM, 12MP main camera and 8MP selfie shooter, Snapdragon 845 chipset and 3280mAh battery. The Sirin Lab developer believes that this smartphone will be the first generation of consumer-ready, blockchain powered devices.

During December 2017, Sirin Labs – Bancor – raised $157.8 million USD through an Initial Coin Offering (ICO), gathering $100 million USD over the first 24 hours. The Finney smartphone based on a Google-certified Android 8.1 system is set to be released this November. In addition, the company is also planning to run its new blockchain smartphone on Sirin OS platform.

Why Finney?

Primarily, the name “Finney” is the influence of “Hal Finney” who was a famous advocate of cryptography and digital privacy. It will also have a Token Conversion Service (TCS) with a multi-blockchain decentralized application (dApp) store. Finney smartphone is built with two touch screens which are a unique feature and the cold wallet that will allow users to securely transact cryptocurrency, which further makes it amazing for blockchain appliance.

The Finney Smartphone

According to its official website, the Finney smartphone will run on SIRIN OS, which supports blockchain applications such as a secure exchange access, crypto wallet, encrypted communications and a P2P resource sharing ecosystem for payments and apps. In addition, the payment system is supported by the SRN token, SIRIN Labs’ native token.

SIRIN OS features the ultimate security system according to the company. This includes built-in cold storage crypto wallet to support major cryptocurrencies and tokens – although cold storage on a phone sounds like an oxymoron – and secure P2P resource sharing. Through Sirin OS, cryptocurrency and blockchain technology can be more accessible.

Is A Finney Phone Better Than an iPhone or a Samsung Phone?

Other operating systems such as Android and iOS do not offer enough flexibility for the user to access new (disruptive) technology on their device, according to Sirin. However, a new OS by Sirin Labs is all set to fill the gap between mass market and the blockchain economy. The official website claims that the Finney smartphone will enjoy the functionality of Android OS, cybersecurity technology that ensures reliable access to blockchain tech and other advantages.

But the device will be built with a centralized backbone. This is a move that core cryptocurrency users will certainly be wary about. Nevertheless, Sirin shows that the telecommunication industry is already in the midst of a transformation with newer technology. Hopefully this time around, the team behind all these fireworks, will not be as deceitful as it was with the Bancor ICO.

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