Cryptocurrency News

Stellar Collaborates With Samsung To Deploy Its BlockChain Is Samsung Galaxy Phones, PayPal Is Developing Its Cryptocurrency

Stellar Development Foundation (SDF) is collaborating with Samsung Mobile to enable developers to develop applications that are compatible with some of its Samsung Galaxy phones. The collaboration will also open a way of incorporating the Stellar Network into Samsung’s Blockchain Keystore.

Collaboration to benefit users in storing private keys

The amalgamation of the blockchains will allow Stellar network users to store private keys in some Samsung smartphones. The stellar network is a decentralized, open-access platform for cryptocurrency and fiat currency transfers. The platform is meant to enable cross border transactions and unite the economic structure of the globe. The collaboration with coders and developers that currently have their applications of the network and have incorporated SDKs will help in advancing and enhancing the blockchain network knowledge for end-users.

SDF CEO and executive Director, Denelle Dixon stated that the deployment of the Stellar network of Samsung Blockchain Keystore is a huge milestone for the companies. He acknowledged the adoption drive that Samsung is introducing to blockchain tech stating that with the incorporation Stellar will be open to various customers that can benefit from the amalgamation of Stellar and Samsung inventions.

Read More: Binance Launch “Binance Card” That Allow Users To Make Crypto Payments When Shopping Online

PayPal developing its cryptocurrency

PayPal is also enhancing its interest in the cryptocurrency sector after pulling out of Facebook’s Project Libra. The payment services provider addressed the decision to pull out of the stablecoin project adding that it was focusing on developing its cryptocurrency. In a letter to the European Commission (EC) the company confirmed its interest to build distributed ledger technology and cryptocurrency development. PayPal is interested in how the technology will reduce pain points in the sector as well as enhance financial inclusion.

Although no further details have been provided about the plans, last month CoinDesk reported that the payment giant and its Venmo division were planning to launch direct crypto sales to users in the coming months. According to the EC letter that was sent in March, PayPal is supporting the harmonized EU licensing approach that seeks to clarify some aspects in the industry regarding cryptocurrency activities and a neutral regulation approach for tech.

Ruchi Gupta

Ruchi Gupta covers various beats from finance to technology and from lifestyle to hobbies. She has an MBA in Finance. Ruchi enjoys writing on celebrities and political news. She likes traveling and exploring places.

Related Articles

Back to top button