KIPO receives application for Samsung Coin trademark: Samsung probably out of picture

Posted 22 July, 2019

Samsung claims that it did not release the newly emerging cryptocurrency Samsung Coin, despite the fact that the digital asset uses its trademark. Moreover, Samsung denies any official connection with the coin.

July 19, there were reports that a person in South Korea wanted to register the Samsung Coin trademark. According to the report released by the Korean Intellectual Property Office (KIPO), the application was submitted in early July by citizen Kim Namjin in the English and Korean languages in the “Software” section, including the “electronic money card” and “electronic encryption device”. It is not specified how exactly the applicant intends to use the blockchain or cryptocurrency,

Notably, it was rumoured earlier that Samsung was developing its own blockchain-based on Ethereum technology and could use it to release digital currency. Initially, it was assumed that Samsung is preparing to release its token for the application to the smartphone Galaxy S10. However, the South Korean tech giant claims it has nothing to do with Samsung Coin or its newly registered trademark. 

“We don’t work this way.” - said a company representative

It is possible that Samsung is trying to keep the development of the native token in a secret until a more appropriate time, especially after a political storm caused by Facebook’s potential digital currency.

However, most likely the person who submitted the application for the trademark hopes to benefit from Samsung’s entry into the crypto space. It became known that the same Korean had previously applied for trademarks related to cryptocurrency, under the guise of other major technoloUnknown registers the Samsung Coin trademark companies, including ThinQ Wallet.

Previous story

22 July, 2019 13:43

← BitMEX sees $85 million outflow: CFTC review among reason

The service that tracks movements of funds among cryptocurrency exchanges and wallets TokenAnalyst reported massive withdrawal from BitMEX over a day. The report on its Twitter on July 20 showed that platform's users withdrew $85 million from the exchange over a day, compared to $54 and $50 million from Binance and Bitstamp respectively.

BitMEX sees $85 million outflow: CFTC review among reason

Next story

22 July, 2019 12:16

ICE Bakkt expected to commence futures tests →

The ICE's platform Bakkt is likely to launch bitcoin futures trials today with the 100% start of operations expected till Q3 2019. The project reportedly remains attractive even despite numerous startup postponements, as commented market analyst from Fundstrat Global Advisors Sam Doctor during the Bakkt Digital Asset Summit.

ICE Bakkt expected to commence futures tests
Write a comment
 
Prove you’re not a bot + 19 = 30