Foxconn will be BlockChain's first mobile phone production

In order to expand the use of virtual money, startup from Switzerland, Sirin Labs introduced the world's first blockchain phone, in September 2017.

Now, FIH Mobile, a Chinese manufacturing subsidiary, Foxconn, has signed an agreement to produce a blockchain smartphone named Finney.

Besides being a smartphone, Finney also functions as a digital wallet to store virtual currency (cryptocurrency). It is supported by cold-storage (integrated digital wallets not connected to the internet for safe) and encrypted communications.

The author designs Finney as a compatible device with a variety of blockchain-based virtual currencies, including Bitcoin. Users can shop on sites that receive payments with cryptocurrency, such as Overstock and Expedia.

All virtual money based services in Finney are activated via a physical button. Later, users will be able to authenticate transactions using biometric mechanisms such as fingerprint scanners and scanner iris, following passwords, instead of having to remember long digital wallet keys.

In terms of specifications, Finney phone supported 5.5-inch screen, 6 GB of RAM, and 64 GB storage. There is also a 12 MP rear camera and front camera 13 MP. Its operating system is Sirin OS based on Android.

Finney's per-unit price of US $ 1,000. However, by licensing the technology to other smartpthone manufacturers, Sirin hopes to push the price tag into a range of US $ 200.