Foxconn will make the world’s first blockchain smartphone

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Blockchain is all the rage right now, and you’ll soon see the world’s first blockchain-based phone soon.

Finney, created by Sirin Labs, will be a phone that lets users store and use digital currencies without having to pay transaction fees, reports Bloomberg. This means you don’t need to carry around USB sticks with your digital wallet — instead it will all be stored on the phone.

The Finney will be capable of working without using an exchange to convert digital currencies, and will let users shop on sites such as Expedia easily. Another cool feature allows users to turn their phones into personal hotspots that can be rented out for digital tokens. Security will be protected via iris or fingerprint scans, though a password can also be used.

There are already 25,000 units preordered, with shipping slated in October. It will be sold in places such as Vietnam and Turkey. Sirin Labs previously raised $158 million through an initial coin offering (ICO) for the project in December, and hopes to ship a few million units this year.

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