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.