Sirin Labs Partners with MyEtherWallet for Future Phones
March 21 2019 - 12:31PM
ADVFN Crypto NewsWire
Bitcoin Global News (BGN)
March 21, 2019 -- ADVFN Crypto NewsWire -- Sirin Labs promised the
crypto community the first blockchain phone and yet as of now,
their efforts seem to have been greatly overshadowed by HTC and
Samsung. Even so, with today’s news, it appears that the Sirin Labs
development team has been far from quiet.
Reportedly, they have partnered
with MyEtherWallet, which is perhaps the most well-known wallet
provider for those who want to hold a variety of ERC-20 tokens at
once. According to CoinDesk, the key aim of this partnership is to
not only integrate the MEW wallet with Sirin’s Finney phone, but
also to allow users to buy a Finney phone inside of their MEW
wallets. Apparently, Sirin Labs staff believe that these
connections will also make it easier for users to own the private
keys to their crypto holdings.
What this likely means is that when
the MEW wallet is fully integrated with the Finney phone, users
will store their crypto inside of the phone while receiving the
private keys to it as they create their first MEW
wallet.
While at face value, this is not
significantly different from using any crypto wallet on any phone,
the uniqueness of this connection likely stems from how the Finney
phone is different from one that is more traditional. On their
site, Sirin Labs claims that their operating system includes more
than one crypto wallet, multiple Dapps, and some sort of token
exchange service.
If this were truly the case and
they had the user numbers to back up the utility of such an
ecosystem, then their partnership with MyEtherWallet would likely
not be needed. CoinDesk’s article today states that the Finney
phone’s real use case is in its’ security features like a cold
storage wallet inside of the phone. Perhaps, with this in mind,
both firms are looking to benefit since MEW has been hacked in the
past and Sirin Labs has been failing to keep up with more powerful
competitors.
In other words, what if MEW is
looking to establish a reputation for trustable security while
Sirin Labs is just looking to attract users? In the end, the reason
for this partnership is likely this, in connection with the fact
that both firms are looking to attract more of a variety of users
to cryptocurrencies through products that are easy-to-use. Only
time will tell if their efforts come to fruition as they hope they
will.
By: BGN Editorial Staff
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