Samsung, Disney to Be Involved in Blockchain Plays? Watch Big Brand Rumors


Today there’s some big news from the consumer world as mega-telecom company Samsung, according to an anonymous source, talks to Korean media about Samsung undertaking a new blockchain project based on Ethereum.

“The project, part of an undertaking by the company’s dedicated blockchain division, would see a blockchain mainnet appear based on Ethereum (ETH), along with a new asset dubbed Samsung Coin,” writes William Suberg at Cointelegraph this morning.

Suberg admits the news is not confirmed officially.

“An exclusive CoinDesk Korea report on Tuesday, citing a person ‘familiar with Samsung’s internal situation,’ said that the company’s blockchain task force – part of its wireless division – is building a blockchain mainnet based on ethereum,” adds Yogita Khatri at Coindesk. “ The work, however, is still at the ‘internal experimental’ stage.”

Meanwhile, other Korean media report that NXC Corporation, an online gaming firm, is about to change hands, as the current chairman will sell his 98% stake in the company. NXC has a big stake in Korbit, a South Korean exchange, and Bitstamp in Europe.

With around $13 billion on the line, even this unconfirmed news is significant.

“To date, Disney has had little to do with cryptocurrency, its Dragonchain blockchain remaining a fringe project despite a 2017 initial coin offering raising around $13 million,” Suberg reports, covering this rumor.

“According to the Herald, the NXC mogul had held a soft spot for Disney for some time, spurring the belief that the deal would likely have a specific outcome,” writes Esther Kim at Bitcoinist.

While neither of these reports are official, many investors like to keep their ears to the ground about big brands looking to start new blockchain efforts.

That’s partly because of the money that’s involved, but also because prominent buy-ins tend to spark investor activity.

We’re already riding a green crypto wave as Bitcoin breaks significantly above $5000, and ETH rises to its six month highs. This gives investors more inspiration to perform research on various coins and leverage their portfolios before we see another ground-changing shift in where crypto is going this year.