THELOGICALINDIAN - Phone makers in China are hasty to accompany blockchain adaptable phones to bazaar but there is cogent abashing on the technology itself
There are few things like new technology that gets companies scrambling to acquisition some way to be allotment of the latest trend. Of course, the capital acumen is banking as they appetite to accept a advantageous allocation of whatever acquirement said new technology generates. Which is why abounding altered companies are active to articulation themselves to blockchain technology. This can be apparent in China area there’s a blitz to accomplish blockchain adaptable phones and accompany them to market, but there is an absorbing aberration to the proceedings.
Manufacturers of adaptable phones in China are hasty to accomplish blockchain-related phones. A brace of companies accept appear articles over the aftermost few weeks, and added Chinese companies accept phones in development.
One such adaptable buzz is the R8 Unicorn by Sichuan Changhong Electric Co., Ltd., which was appear on March 16th. The R8 is based aloft the POW accord algorithm, forth with LBS area account and accessory fingerprinting technology. The buzz allegedly allows users to almanac abstracts on the blockchain as able-bodied as appoint in cryptocurrency mining.
The Lenovo Group appear its blockchain adaptable phone,the Lenovo S5, on March 20th. The aggregation claims that the buzz appearance a blockchain-based acquittal space, acclaimed as Z-space, that makes banking affairs abundant added secure.
However, it may be abortive to get too aflame about these blockchain adaptable phones. When apprenticed for added capacity on the Lenovo S5, the aggregation clammed up. As for the R8 Unicorn, you won’t absolutely be mining Bitcoin on it. An industry analyst, Lu Tianwen, says that you’ll be mining the buzz company’s basic currency, which you’ll again redeem for rewards.
In fact, there seems to be a lot of abashing apropos blockchain technology and adaptable phones on the allotment of the manufacturers themselves. When a media aperture contacted industry professionals, they declared that they were not bright on what absolutely blockchain adaptable absolutely is and how it would function.
Lu Tianwen says that all this is aloof an attack to ride the latest hot trend. He states that the buzz manufacturers are aloof demography advantage of people, and he additionally maintains that adaptable phones are absolutely far from secure.
This would not be the aboriginal time that companies approved to accessory themselves with blockchain technology in adjustment to addition revenue. Eastman Kodak saw a brief billow in their banal amount aback they appear affairs to barrage their own cryptocurrency, and the Long Island Iced Tea aggregation saw its banal amount bifold aback they afflicted their name to Long Blockchain Corp. aback in backward 2017.
In fact, the Shenzhen Exchange and the Shanghai Exchange accept started warning companies that try to allurement in investors by fraudulently authoritative claims of a blockchain connection. It seems that abounding bodies accept apparent themselves absolutely accommodating to bandy money at companies who aloof cascade “blockchain” on a approved basis.
Do you anticipate that the Chinese adaptable buzz makers are active a fast one? What do you anticipate a blockchain adaptable buzz to be? Let us apperceive in the comments below.
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