Huobi to launch its $500 blockchain-powered phone

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Just days after China Telecoms released its whitepaper on a blockchain-powered 5G phone, Huobi cryptocurrency exchange has announced similar plans. The Singaporean exchange will launch its blockchain phone next week, a report by Finance Magnates has revealed. The phone, which is already available to some users in China, will cost just over $500.

Huobi’s new phone will be known as Acute Angle and will become available in Southeast Asia first. Developed in partnership with the exchange’s Whole Network project, the phone will run on Android OS. It has been designed to optimize a user’s cryptocurrency trading experience, with such features as hardware encryption for asset security and system layer market alerts. Acute Angle will come with a 6.7 inch screen and 128 GB memory.

Blockchain phones are an area with plenty of promise for future blockchain industry development, Huobi’s CEO Livio Weng believes. He added:

“As the industry develops and as innovations like 5G become increasingly integrated into our telecommunications systems, we believe more and more crypto communities will want to trade and transact from mobile devices. Given this, the need for devices optimized for blockchain seems clear. This move is our first step to meet those user’s needs.”

The phone will be unveiled officially during the sixth Huobi Prime launch next week. The exchange will also launch NODE, the cryptocurrency it intends to use on its new blockchain project Whole Network. Acute Angle will be available across Southeast Asia by the end of the year, with the exchange planning to expand to Europe and the U.S after that.

The phone will set you back $515 and can be purchased with the exchange’s native token, the Huobi Token.

The blockchain mobile phone industry has continued to attract interest as the interest in the technology popularized by Bitcoin continues to rise. China Telecom announced recently that it was working on a blockchain-powered phone that would harness the power of 5G technology. The company, which is the third-largest in China, plans on developing a SIM card-based blockchain digital asset management system.

The two new entrants join Taiwanese smartphone manufacturer HTC whose Exodus blockchain smartphone has been in the market since October last year. The company also revealed in May that it was in the process of developing a second-generation blockchain smartphone. The phone is expected to be commercially available before the year ends.