Finney's Blockchain Phone Breaks the Bangladeshi Market

According to the Daily Star report , Finney , the smartphone that natively incorporates Blockchain technology will soon be available on the Bangladeshi market in October, with the approval of the Bangladesh Telecommunication Regulatory Commission.

A revolutionary smartphone

Of Swiss origin, this phone Blockchainisé is the new jewel of the crypto-startup Sirin Labs . After raising the $ 157 million, the company sought the partnership of Foxconn Technology Group to set up the project.

Moshe Hogeg, the co-founder and CEO of Sirin Labs, describes this new product as a revolution in the world of Blockchain, according to these terms:

"Before Finney, you needed a computer, [...] wallet software, then an exchange platform, and finally a conversion. Finney does all this in one phone. "+

Indeed, the Finney smartphone is equipped with a crypto-currency cold storage, a system of APPs and a highly secure communication technology. However, no mention has been made of taking over cryptocurrencies.

A rather precarious market

At first sight, Finney's implementation strategy has been carefully studied by the firm. With a potential market of 138 million consumers and an Internet coverage rate of 41%, Finney would probably sell like hotcakes in Bangladesh.

According to GSMA Intelligence's analysis, the success of Sirin Labs' smartphone goes hand in hand with the increase in the number of urban dwellers in the country, which stimulates the demand for a modern mode of consumption, particularly for mobile.

Nevertheless, the limited purchasing power of Bangladeshis is a drag because the price of a smartphone is equivalent to half of nominal GDP per capita. With a price difference of $ 100 compared to Samsung Galaxy S10, his main opponent, Finney even becomes an object of ostentation in the eyes of an amateur not knowing distinguish the main virtues of cryptocurrency and Blockchain technology.

The only strength of Finney lies in its ability to promote crypto-currencies and Blockchain , provided that the mass popular also goes in this direction. However, this case is highly unlikely. Finney thus remains an undeniable vector of Blockchain technology, but only in power.

What do you think about the implementation of the Finney phone in Bangladesh? Comment in the comment section below.