SIRIN LABS Releases World’s First Blockchain Smartphone ‘FINNEY’
The FINNEY, a blockchain smartphone by SIRIN LABS, is out and could ship before the end of the year.
Launched on November 29, 2018, at an event in Barcelona, the $999 phone has made history as the first blockchain-enabled smartphone that allows its users to securely access and use blockchain-based products.
The state-of-the-art product boasts added security that answers most of the questions related to mobile computing, especially issues that concern crypto transactions and safe storage.
By according users real-time cyber protection via its Intrusion Prevention System (IPS), a machine learning protocol, the FINNEY could garner a lot of interest, perhaps even more than its predecessor Solarin.
The phone’s maker, Israeli startup SIRIN, used its SirinOS to integrate blockchain functionalities into the mobile device, including the addition of a decentralized application (dApps) store.
The device also comes with a two-inch multi-touch secondary screen dubbed the “safe screen,” which allows users secure access to the built-in cold storage wallet.
Though the SirinOS is a fully-developed OS tailored for crypto, the Sirin team has said that it isn’t going to be limited to the firm’s FINNEY phone.
According to a SIRIN LABS statement, the startup is on the lookout for strategic OEMs that would also implement the trademarked operating system in the production of other consumer devices.
As such, the OS could be of significance to some of the mainstream mobile phone manufacturers, including the likes of ASUS, Motorola, or Huawei.
The FINNEY out but SRN token down
The launch event took place in Barcelona, though Sirin Labs also held a simultaneous launch that included a “concept store” being opened in London.
The London store will also serve as an educational hub where those who buy the phone and need more information about its features can have their questions answered.
Sirin has a number of stores coming up, including in New York, Tel Aviv, Berlin, and Seoul.
Interest in SIRIN Token (SRN) may, however, not experience a surge despite the token being primarily used in the Sirin ecosystem to buy SIRIN LABS’s “products, applications, and services.”
The platform’s whitepaper also promised discounts to all SRN token holders who use their coins to purchase products, and unsurprisingly, the startup offers a 10 percent discount to those who pre-order or buy the FINNEY.
But there is no express connection between the SRN token and the phone, and that could explain why the platform’s native token has seen its price drop sharply in the last few days despite the news.
Currently, the token is trading more than 4 percent up on the day, at $0.0837 against the US dollar.
Startup eyes mass production
A drop in SRN prices says nothing about the interest in the FINNEY phone, whose availability could be augmented with mass production from Foxconn.
Foxconn is the same manufacturer that produces phones for Apple, and which Sirin has partnered to have its blockchain phone mass-produced for the global market.
Sirin’s chief marketing officer Nimrod May noted that:
“By choosing Foxconn to build the FINNEY, we’re demonstrating the public’s desire to have a mass-market smartphone that is able to safely and securely operate within blockchain and cryptocurrencies.”
At one point, a $999 price point would have been too pricey, even for a device that is the first blockchain phone in the world. However, competition in the industry has changed things, and current price points are considered normal, depending on the available features.
For the FINNEY, a 12MP camera, 128GB internal storage (expandable via SD), and the dApps marketplace mean the phone has the next-gen features that correspond to the pricing.
May, SIRIN LABS’ CMO said that shipping for the phone should start somewhere between December 15 and 25 this year.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.