World’s 2nd Blockchain phone raises 100 Mil in 24 hours

Sirin Labs, the developers of the world’s 2nd Blockchain phone, the FINNEY™ raised more than 100 Mil dollars in 24 hours according to their website.

 

 

According to the company the FINNEY™ devices are designed to support inherent Blockchain applications, such as a crypto wallet, secure exchange access, encrypted communications, and a P2P resource sharing ecosystem for payment and apps, supported by the SRN token, The SRN token are sold in a crowd sale event and the funds will be utilized to support the development of the FINNEY™ products which should reach the market at the end of 2018.

 

FINNEY™ devices will be powered by IOTA’s Tangle technology, a new form of distributed ledger technology in contrast to pure blockchain technology.

 

 

Sirin Labs is playing catch-up to the market leader, the BitVault®, the World’s first blockchain phone, designed and developed by Embedded Downloads. The BitVault® has a substantial time lead as the smartphone is already completed and the company is currently actively marketing their enterprise solutions to large organizations.

 

The BitVault® uses blockchain technology and comes with cryptocurrency wallets for EOT, Bitcoin, Bitcoin Cash and Ethereum. The smartphone also has applications for secure messaging, secure calling, secure media vault, secure document transfer amongst some of its features as well as an independent application store where developers can create blockchain enabled applications for the BitVault®

 

More on the BitVault®Click Here

 

 

Embedded Downloads, welcomed the entrance of Sirin Labs into this market and noted that more development and products will help to grow the sector. The company also expects that more and larger organizations will be entering the mobile blockchain space shortly.

 

As reported by Reuters – full article here

 

According to a spokesperson for Embedded Downloads, it was great news that large enterprises are seeing the potential of blockchain and IoT [ Internet of things ] integration.

 

The company announced earlier this week that the Limerick Blockchain Mastermind will have as the discussion topic at its next meeting at the Bank Of Ireland, Limerick University Campus “Blockchain and IoT, a match made in heaven”

 

It could indeed be a match made in heaven as analysts predict that business-to-business spending on IoT technologies and solutions will reach $267 billion by 2020 as more and more devices will create a near-endless stream of data.

 

Embedded Downloads has been a leader in IOT / Blockchain development and is the developer of the world’s first blockchain smartphone and crypto communicator – The BitVault®. The unique blockchain security features and military grade encryption of the BitVault® makes it an attractive product to large enterprises and the company is currently in talks with several customers in the DefTech [ Defence Technology ]  and Fintech [ Financial Technology ] sectors.

 

To facilitate the encryption in its product the company developed a cryptocurrency for use in its hardware and software encryption products, EOT [ Encryption of Things ]. EOT is a blockchain based decentralized cryptocurrency with all the features of Bitcoin but with a few small modifications to make it suitable for use in encryption.  More information on EOT:  Click here

 

Embedded Downloads also mentioned that the company is developing hardware and software EOT toolkits that would enable manufacturers of IoT devices to integrate EOT encryption into their devices.

 

The company noted that the entry of Microsoft and other large organizations into this market shows the amazing potential and stressed its commitment to remain the pioneer and leader in this sector.

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