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More details leaked about Samsung S10’s cryptocurrency wallet & CosmoCoin

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According to the leaked press release, Cosmochain selected as Galaxy S10 Initial dApp Partner, Samsung Galaxy S10 will support COSM token as one of the first altcoins to be included in its native cryptocurrency wallet.

A press release revealing Samsung’s plans to partner up with Cosmochain was first distributed via AP News and Accesswire networks but it was taken down shortly afterwards. It also explains a spike in COSM token price.

Copy of a leaked pr brief:

COSMEE, a blockchain-based beauty content platform, has been selected as one of the first dApps supported by Samsung’s Galaxy S10. CosmoCoin (COSM), which is the cryptocurrency used in COSMEE, will be supported by Galaxy Keystore, the native cryptocurrency wallet for Galaxy S10.

Cosmochain, which operates COSMEE, announced their selection as initial dApp partner for Galaxy S10 on February 20th, the same day the new device was unveiled in San Francisco.

COSMEE is a blockchain-based beauty platform where users can review cosmetics from their mobile device. When a user uploads a review, they receive COSM rewards depending on the evaluation of other users. Cosmochain explains that all activity within the platform, including content reviews and evaluation history, can be recorded on a blockchain to create a reliable and trustworthy reward system. COSMEE has accumulated 300,000 downloads and 70,000 cosmetic reviews during its three-month pilot service which began last August. COSMEE’s full version is set to launch during the first quarter of this year.

Furthermore, security has been greatly reinforced through the operation of COSMEE in the Knox platform, similar to a mobile banking application. Knox refers to a security system in Samsung devices that synchronizes only with previously registered applications. Every time the COSMEE app is run, users will have to go through biometric or PIN verification process. Notably, the mobile payment Samsung Pay, as well as the authentication service Samsung Pass operate on the Knox platform.

Users of COSMEE, operating on the Knox platform, can immediately transfer and store COSM tokens received from the application in a native cold wallet. Cryptocurrencies such as Bitcoin and Ethereum have also been selected to be initially supported in Galaxy S10’s cold wallet.

Howon Song, CEO of Cosmochain, believes that “cryptocurrency user base will grow with Galaxy S10’s digital wallet addition” and that “COSMEE will grow to become a leading service in the blockchain industry with its user friendly service.”

Samsung unveiled Galaxy S10 series in San Francisco during its Galaxy UNPACKED 2019 event. They announced the introduction of blockchain functionality including a cryptocurrency digital wallet and support for dApp services.

Update: On February 20, Cosmochain commented on Facebook:

Today, speculation-based reports on tentative issues have been released by foreign news outlets.
Currently, all media companies that have distributed the press release identified the source as Cosmochain. However, Cosmochain did not conduct any interviews with the press regarding this issue.
The media that distributed the press release will be held liable for any problems arising from the release and undergo deletion of the release through Cosmochain’s legal counsel.
To minimize the confusion of holders due to this press release, we will continue to remove the related articles and ask the holders to refrain from any mentions.

Cosmochain team also contacted us and requested to remove this article for the above reasons. However, this rises many questions. Why the press release was distributed in the first place? What was the intention behind it? Cosmochain team claims, that AP News bears the responsibility for this leak. The company also stated that the article contains false information. However, it is still unclear which part of the leaked press release is “false information” as the company has refused to confirm or deny its partnership with Samsung.

About Mantas Malukas

Mantas is the founder of Dapp Life, crypto investor and an online entrepreneur who has professionally immersed in digital publishing and development for over a decade.

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