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Sirin Labs, an Israeli technology company, announced that foxconn mobile, a subsidiary of contract manufacturer foxconn, will make the company's Finney smartphone, foreign media reported. It is the world's first blockchain smartphone. Sirin reportedly plans to officially release the phone in October, with the company aiming for 100,000 to several million units for this year's shipments.

Sirin Labs, an Israeli company based in blockchain, has found a manufacturer for its smartphones, bloomberg reported on April 4.

FIH Mobile, a subsidiary of foxconn technology group, has agreed to help develop its blockchain phone, called Finney.

Foxconn is a multinational electronics contract manufacturing company headquartered in Taiwan.

It is one of the world's largest employers and some of its key customers include apple, Google, cisco, huawei and amazon.

The smartphone is designed to allow users to securely store and use digital currency.

Moshe Hogeg, chief executive of Sirin, said the use of digital currency was difficult and unintuitive with current storage methods.

"... The mass market will never learn how to use it. My mom is smart, but it's still impossible for her to know how to use bitcoin."

The device will integrate a large number of different tokens.

It will also allow users to shop on encrypted sites like Overstock.com and Expedia, converting cash into special tokens if needed.

Users may end up giving up complex addresses and long private keys, says Sirin, and instead verify their identity on the service with an iris scan, a fingerprint or even a simple password.

In December, Sirin raised $158 million in an initial token offering (ICO) on top of an initial investment of $700,000.

In October, Sirin plans to ship its first product to eight new stores in the most active cryptographic communities in Turkey and Vietnam.

The swiss-based consumer electronics company hopes to license the technology to other phone makers, which could lower prices and make devices easier to use.

According to bloomberg, Sirin plans to officially release the phone in October, and the company aims to ship 100,000 to millions of units this year.

As Cointelegraph reported in March, huawei is also preparing to develop blockchain smartphones and is in discussions with Sirin LABS, which reportedly wants to license the Sirin operating system.

Although Sirin laboratory has publicly confirmed that talks took place, no details have been released. (prospective net). (the original from the home of SMT BBS, reprint please indicate the source: http://bbs.smthome.net/read-htm-tid-465097.html)