Sirin Labs unveiled its blockchain smartphone in September last year. The Finney smartphone will be able to function on the blockchain, allowing users to access built-in resource-sharing capabilities to spend tokens. The handset will also function as a secure wallet for cryptocurrency cold-storage to ensure that users’ digital currency remains safe. Sirin Labs’ has now found a manufacturer to mass produce this handset and it happens to be Foxconn, one of the largest contract manufacturers in the world. If that name sounds familiar that’s because Foxconn is the company that makes iPhones for Apple.
Sirin Labs has confirmed today that Foxconn will be manufacturing its $999 Finney blockchain smartphone. It’s billed as the world’s first blockchain-based smartphone which can automatically convert tokens for use in decentralized applications without having to acquire different tokens through an exchange.
Sirin Labs conducted an initial coin offering or ICO in December last year to support the development of the device. It raised $157.8 million in the ICO and it also used those proceeds to develop a blockchain-based PC.
The company is going to sell this device through eight new stores in Turkey and Vietnam. More than 25,000 units have been pre-ordered already and Sirin Labs aims to ship more than 100,000 units to possibly a few million units by the end of this year.
Huawei, one of the fastest-growing smartphone vendors on the planet, is also believed to be working on its own blockchain smartphone for which it will source the operating system from Sirin Labs.
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