A phone on the blockchain: What can the Sirin Labs Finney Phone do?

Last year, Sirin Labs launched the Finney Smartphone, the first mobile phone on the market to function within a specially developed blockchain ecosystem. The company has also developed a Blockchain-All-In-One-PC.

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Blockchain will remain one of the buzzwords in 2018 when it comes to technological innovations designed to make our lives simpler, more convenient and more efficient. Driven by the use of crypto currencies, which have recently been on everyone’s lips thanks to the recent Bitcoin news high flight, the review of this technology is gradually making its way into the middle of society. In addition to institutionalized adaptations, such as in logistics or the energy industry, the private use of blockchain-based solutions is becoming increasingly important.

A suitable example of this is the Finney smartphone, a mobile phone issued by the Israeli blockchain start-up Sirin Labs. Sirin Labs has developed its own ecosystem, Finney, to combine consumer hardware with blockchain technology. Sirin denounces that the current generation of interconnected electronic devices places too little emphasis on security and sacrifices it in favor of optimizing the user experience. For a sustainable digital economy, however, sufficient security of user data when using a device is indispensable. The blockchain named after Hal Finney, one of the first bitcoiners, is intended to remedy this situation.

Sirin Labs recently launched two products that can be used within the Sirin ecosystem. The Finney smartphone is marketed as the first blockchain-enabled mobile phone and can be purchased for around 1,000 US dollars. The Finney Blockchain All-In-One PC is said to be a bit cheaper for about 800 US dollars. Both devices will run on the Android-based open source operating system Shield OS, which is programmed to support blockchain applications such as an integrated cold storage crypto wallet, secure access to crypto exchanges and encrypted P2P resource sharing.

The devices also have their own DApps

The Finney smartphone is not the first mobile phone developed by Sirin Labs. In 2016, the luxury Solaris smartphone came onto the market for $14,000. Here, too, the focus was on the security of user data, but this early version did not yet include a blockchain solution. In addition, the expensive purchase price prevented the device from becoming seriously established. Instead, the Finney smartphone is designed for the mass market and has the ambition of becoming one of the pioneers of a new generation of smartphones.

Last year, Sirin Labs raised more than 150 million US dollars for the further expansion of the Finney Blockchain ecosystem, far exceeding its target of 100 million. For the acquisition of the products as well as the use of the Finney network, the SRN token exists since the ICO that ended last week, which will have contributed significantly to the financing of the project. Sirin Labs had announced its intention to develop the smartphone in the case of an income of 50 million US dollars, for the development of the PC the figure of 75 million US dollars had been spent.

With the development of the first blockchain-enabled devices, Sirin Labs aims to take electronics into the blockchain era and create a customer-focused, secure open source product. Finney smartphones and Finney PCs thus create an interface between hardware and blockchain technology, between electronics and digital, via the Sirin ecosystem. This innovation could represent the next logical step in the evolution of the smartphone by flanking permanent networking and availability with the self-management of one’s own data.