Finney is the world’s first blockchain-enabled smartphone and will soon be available in Bangladesh. On September 9th the Bangladesh Telecommunications Regulatory Commission approved the import of the phone and will be listed on the Bangladeshi market in October, according to local newspaper The Daily Star.
According to a 2018 report by GSMA Intelligence, a global research firm, 75 percent of the population (138 million) will have a smartphone by 2025, while 41 percent (73 million) will be a mobile Internet user. According to the GSMA, with cheaper devices on the market, the increasingly urban population is buying more smartphones, and in this respect, Finney is priced at the same price as Bangladesh’s high-end phones.
Finney launched last year for $999, while the Samsung Galaxy S10 sells 74,900 takas ($894) on the local Mobile phone market.
Integrated wallet and blockchain capabilities Swiss-based Sirin Labs developed the phone based on one of the top five initial token products for 2017 ($157.8 million).
The phone features an integrated refrigerated wallet, secure communications, and a decentralized application ecosystem.
Moshe Hogeg, co-founder of Sirin Labs, says Finney, made by electronics giant Foxconn Technologies, incorporates many aspects of blockchain and cryptocurrencies into one device: “Before Finney, you need a ledger, you need a computer, you need wallet software, and then you need to exchange it, and then you can convert.” Fanny appeared and did all this work with a cell phone”.
Last month, the Government of Bangladesh decided to use the $208 million IT Project Fund to send blockchain-training graduates to Japan and India. The government plans to send 100 newly graduated IT students abroad to improve their expertise in distributed ledger technology, artificial intelligence, machine learning, and cybersecurity.