Samsung Electronics has filed a new trademark for the term ‘Samsung Crypto Wallet’ in UK’s trademark office, UKIPO.
Mystery surrounds the moves by the South Korean giant Samsung to obtain trademark rights for a cryptocurrency wallet for use on its mobile devices. In the first week of December, we found three Blockchain related trademarks (Blockchain Core, Blockchain Keybox, Blockchain KeyStore) filed by Samsung in the European Union Intellectual Property Office (EUIPO).
Yesterday, Samsung has filed trademark application for the term ‘Samsung Crypto Wallet’ in Great Britain’s trademark office, UKIPO. Before Brexit, may be the EU trademark registration would have been good enough.
It’s a Cryptocurrency Wallet for Samsung Phones
On the earlier occasion too, doubts were raised as to the purpose of the technology and why Samsung was going for it. But the classification under which the trademark is being applied for is 9, which represents smartphones and tablets and a host of other computer devices. But smartphones figure predominantly in the definition of the category within which the trademark is sought to be registered, whether in the EUIPO or UKIPO.
Now, the next expectation would be what Samsung wants to do with the technology. Some suggested that the company would include cryptocurrency wallet in the upcoming Samsung Galaxy S10 models (or in its upcoming models in 2019 and 2020).
However, in a separate statement, the Korean company has denied any such moves claiming these suggestions were only of a speculative nature.
Three Heads Chosen for Trademark
While the UKIPO site mentions the Samsung Crypto Wallet as the title for trademark registration, the earlier trademarks filed with the EUIPO had three separate applications for the terms Blockchain KeyStore, Blockchain key box and Blockchain Core.
Are these the same? It would appear so, since the blockchain technology is the basis on which the cryptocurrency is mined. The currency is then stored in digital wallets with special keys to lock them and open later. Cryptocurrency wallets are prone to cyberattacks and holding the keys safe are very critical. The current attempt by Samsung to obtain the trademark can be seen as a move to create the wallet in their high-end smartphones and hope that the buyers will be attracted towards this unique feature on the phones. The present-day Android phones are sufficiently secure and holding the cryptocurrency wallet keys on your mobile might be the answer.
But we will have to wait till Samsung comes out with an official statement. In the mean time, share your thoughts in the comments section.