Does the world need a blockchain phone?

In late October 2018, HTC announced the Exodus 1, its brand new blockchain smartphone. Somewhat predictably, its main selling point is the ability to keep your “digital wallet” full of cryptocurrency connected to the internet, making it ready and able to be used as quick as necessary. What is more, in doing so the company pledges that your data will be kept safe and sound. Furthermore, the device can only be bought with a limited variety of cryptocurrencies (such as Bitcoin, Etherium, or Litecoin), at time of press equating to USD $950. It is a bold step to be sure, but as with any innovation, the Exodus comes with its own set of questions that must be answered and understood before the mainstream fully embraces this new technological step.

What’s the logic behind giving a digital wallet perpetual internet connectivity? There already exist phones with so-called “cold” storage wallets, such as the Sirin Labs Finney phone and Sikur’s SIKURphone that keep your digital coins shielded from hacking by denying them internet access. But HTC is clearly striving for convenience here. In dedicating a sector of a partitioned processor to blockchain transactions, the Exodus 1 is attempting to make your digital data more secure by keeping it separate from the other typical functions of your phone.

A blockchain connected smartphone is obviously a gadget for the most cutting edge of cutting edge tech-heads out there. As of the current moment, its practicality is questionable; the use of cryptocurrency may not be common enough to justify the investment in the near-term. But could it become so? As the global mainstream familiarizes itself with the numerous diverse uses of blockchain technology, we may see a growing number of these devices pop up. But how can the arrival of a blockchain smartphone be justified?

For one, it’s to normalize the use of cryptocurrency, not to mention blockchain in general. Until now, we have kept the idea of cryptocurrency separate from our everyday tech lives. In certain circles, the very term borders on curse-word territory, something that all but the most stringent technophiles cannot talk about with a straight face. It’s simply too alien a concept for most to get a grip on.