Blockchain Phones Calling the Future of Telecommunications

There has been a predictive report that came out on July 11 from Marketwatch that is suggesting that blockchain technology will contribute as much as $1 billion to the telecommunications sector in the next five years.

When delving deeper into the growth that is already being seen by the telecommunications sector thanks to blockchain - as well as the move toward things like blockchain-powered phones - it is actually an unsurprising number.

If something like the automotive industry is already experimenting and discovering new use cases for blockchain technology - from blockchain DApps for Porsche, cobalt ledgers for BMW and safe-driving reward programs for Mercedes - then it should be expected that phones would soon follow suit.

It is not only the hardware - i.e., the phones - that will have a touch of cryptocurrency about them, the manner in which business is being conducted by these new blockchain communications industry leaders will also be familiar.

What makes this blockchain phone different from regular phones is that, although it will be Android, it will run on the Sirin OS and include a cold storage cryptocurrency wallet, a token conversion service and a DApp store for blockchain-based apps.

HTC offering the first native blockchain option Sirin is not the only company forging the way for a blockchain-based phone.

Not just phones It is not just phone companies directly who are looking to make the move into blockchain, but rather the entire telecommunications industry.

Even before the launch of a native blockchain product, the web browser was aware of the blockchain space and its challenges and promises when it included anti-crypto jacking software back in January.

IBM, another leader in technology - as well as an emerging force in blockchain technology - is also starting to develop the potential for blockchain in the telecommunications space.

Being at the forefront with blockchain phones and implementing blockchains to help with security behind the scenes, a number of companies can become leaders in the space.