💻 Samsung is reportedly developing an Ethereum-based crypto token but it could take a while

CoindeskKorea, operated by mainstream publication Hankyoreh, reported that Samsung Electronics is in the process of developing a mainnet for Samsung Coin, a private and public hybrid blockchain with a business-to-business (B2B) approach. The source of CoindeskKorea, an insider within Samsung Electronics, reportedly said that the blockchain task force oft he company already made several blockchain-based platforms and ran internal tests to evaluate their performance. At this stage, Samsung Pay is said to be uninvolved with the blockchain project but the company is considering the establishment of some strategic partnerships down the line. However, due to the imposition of a ban on domestic ICO and token sales, Samsung is likely to observe the state of the market and lead conversations with local authorities.