HTC’s Launches Phone that Can Run a Full Bitcoin Node
Taiwanese electronics manufacturer HTC has launched its latest blockchain phone, the Exodus 1s, which enables users to support the bitcoin network.
Unveiling the device at the Lightning Conference in Berlin, the company claimed the new product is the first smartphone to be able to run a full bitcoin node, allowing it to propagate transactions and blocks anywhere.
“Full nodes are the most important ingredient in the resilience of the Bitcoin network and we have lowered the barrier to entry for any person to run a node,” said Phil Chen, chief decentralized officer at HTC.
The new smartphone comes to the market at a price of €219 ($244), which is about a third of the cost of its predecessor, the Exodus 1. HTC will sell the new version at the Berlin conference using the Lightening payment network.
The device allows users to install a 400+GB SD card to expand its memory, allowing it to cope with the increasing data capacity required to store the full bitcoin ledger. The current size of the full ledger is closing on 250 GB, according to Blockchain.
The company recommended users to connect to WiFi and plug into a power source while running the full node, though it can also be used on the go.
The smartphone also has a built-in hardware wallet to help users securely store cryptocurrencies. By default it comes with 4 GB of RAM and 63 GB of storage, and runs on Android Oreo 8.1. (Positive)
Remittances Partnership to Use Cambodia Central Bank’s Blockchain System
Malayan Banking Bhd (Maybank) has signed a memorandum of understanding (MoU) with the National Bank of Cambodia (NBC) on cross-border payments and remittances.
With the MoU, Maybank Malaysia, Maybank Cambodia and NBC will explore the possibility of transferring funds between Cambodia and Malaysia through NBC’s blockchain-based Bakong payment system and Maybank’s Maybank2u digital platform.
Chea Serey, the assistant governor and director-general of central banking at NBC said that the Bakong system will enhance the current payment system at both domestic and regional levels, adding:
“The MoU will enable both institutions to reach another level of financial cooperation in further leveraging the technology to benefit the people in Cambodia and Malaysia.”
More than 66% of all mobile banking transactions in Malaysia were conducted through the Maybank App in 2018, while more than 52% of all internet banking transactions went through Maybank’s digital platform, The Edge Markets states.
NBC began testing its Bakong mobile app earlier in July. At the time, NBC said that the peer-to-peer payments app would help the country’s unbanked populace and improve financial inclusion. (Positive)
Samsung SDS Partners With Tech Mahindra for a New DLT Product
Samsung SDS, the IT subsidiary of global tech giant Samsung, has announced a joint initiative to launch a new blockchain-based traceability product.
To develop the new project, Samsung SDS partnered with American software firm Pega and Tech Mahindra, a subsidiary of major Indian multinational conglomerate holding company Mahindra Group.
Specifically, the joint initiative will be a combination of Samsung SDS’s enterprise blockchain platform Nexledger Universal and Pega’s digital process automation platform Pega Platform. By integrating Pega’s core product with Nexledger, the firms aim to develop improvements for supply chain systems.
The solution will target a number of related industries, including banking and financial services, insurance, manufacturing, public services as well as supply chain logistics. (Positive).
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