Finney: Blockchain phone developed by Foxconn

Finney a blockchain smartphone especially developed for using the digital currencies which will be free of charge transaction manufactured by Taiwan’s electronics giant Foxconn. This smartphone is developed by Sirin Labs a Swiss — Israeli firm, which has designed it majorly for bitcoin. It’s not only a device but also a well-equipped smartphone with 5.5 Inch display, rear camera of 12 MP whereas, 13 MP front. It has 6 GB RAM with an internal storage capacity of 64 GB.

Finney has made its first step in the block-chain smartphone industry, which will run on Android-based Sirin OS. This device is specially designed to deal with the cryptocurrency transaction which is claimed to be secure enough to use it, also it will help to convert cash from one cryptocurrency to another like Bitcoin and Monera.

Further to the advancement in Finney, it would also consist of a crypto wallet. This wallet will be also being secure as it has a hardware incorporated within which requires a physical touch to get it online, until which it will be offline according to Bloomberg’s article. Also, the article states that the Finney is expected to start shipping in October for around $1,000, and will initially be sold at eight new stores, to be sited in crypto hotspots around the world. Sirin CEO Moshe Hogeg told the news source that the phone may eventually be sold via mobile carriers too.

The startup claims it has already received 25,000 pre-orders for the device that is certain to appeal to cryptocurrency adopters and enthusiasts. Sirin chief executive Moshe Hogeg hopes to sell the phone through mobile carriers in the future, alongside a shipping target between 100,000 to a few million phones this year.

During the December, the has successfully raised the amount of $157.8 million in an initial coin offering. This amount is now utilized for the development of an open source blockchain smartphone, as well as a blockchain personal computer.