Emerging blockchain technology is creating waves in a variety of industries and soon consumers will be presented with the first blockchain-based smart phone.
The device is being developed by Foxconn and has been named 'The Finney.' This phone enables consumers to preform a number of tasks, with the most impressive being its ability to store and use digital currencies, without a user having to pay transaction fees. In addition, The Finney can convert digital currencies, enabling a consumer to fluidly transition between various forms of payment.
Moreover, The Finney will allow users to create personal hot spots that other people can then rent out in exchange for digital tokens. Because of this phone's blockchain-based technology, users can exchange those tokens, and use them to shop online.
Image Credit: Sirin Labs