The South Korean firm Samsung, who recently launched Galaxy S10, which has been confirmed to provide various blockchain-based functions including cryptocurrency wallet, revealed its first dApp partner.
On February 25th, Samsung Electronics presented COSMEE, a blockchain-based beauty social media platform, as its first dApp partner during its Samsung Mobile Business Summit session at MWC Barcelona 2020.
The rumours were true. On this event, Samsung Electronics unveiled a list of blockchain projects it is cooperating with, as well as its digital cryptocurrency wallet functions. On the list of cryptocurrencies that Galaxy S10 plans to support, South Korean projects Cosmochain and Enjin were included, along with the well-known Bitcoin and Ethereum.
Furthermore, Samsung Electronics disclosed its cooperation with “COSMEE”, a beauty content sharing dApp, serviced by Cosmochain. Among the four cryptocurrencies on Samsung’s list, COSMEE is the only dApp service.
Through Cosmochain’s official social media channel, CEO Howon Song commented that “Samsung Electronics’ blockchain team has long been looking for a widely-used dApp service, and so it was possible for COSMEE to be selected as a partner”. He also mentioned that both parties had numerous meetings in order to verify business model and technology during the last six months.
COSMEE is widely known in Korea as a real use case of dApp service. COSMEE is a blockchain-based beauty content sharing dApp. When users upload beauty reviews within the application, they get rewarded with cryptocurrency “COSM” depending on the evaluation of other users. Cosmochain explains that a trustworthy reward system can be created, as all activities including reviews and evaluations can be recorded on blockchain. COSMEE successfully completed its three-month pilot service which began last August, with 300,000 downloads and 70,000 accumulated cosmetic reviews. COSMEE’s full version is set to launch during the first half of this year.
Earlier on February 20th, Samsung Electronics first unveiled its flagship device Galaxy S10 at the Galaxy UNPACKED 2020 event in San Francisco, United States. On this day, Samsung Electronics had revealed “Galaxy Keystore”, which enables safe deposit of digital asset, but did not disclose any details regarding specific cryptocurrencies or dApps it will support. On this issue, few media outlets have commented that Samsung will not develop its own dApp, but rather cooperate with certain dApp projects, as a means to become a comprehensive platform which can support variety of services.