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HTC's new Blockchain phone to hit store shelves in Q3

2019/05/13 14:47

Taipei, May 13 (CNA) Taiwan-based smartphone brand HTC Corp. said Sunday it will release its next generation Blockchain phone, the Exodus 1s, on the market in the third quarter of this year, with full node capability to support Bitcoin transactions.

"Exodus is about empowering the user. We gave users the ability to own their own keys, and now we've gone one step further to allow users to run their own full node," HTC Chief Decentralized Officer Phil Chen (陳信生) said in a statement at the unveiling of the phone.

"We are democratizing access to the technology for a free world," Chen said.

"Full nodes are the most important ingredient in the resilience of the Bitcoin network, and we have lowered the barrier to entry for any person to run a node, which is simply a computer, mobile in our case, participating in a global Bitcoin network that propagates transactions and blocks everywhere, which is the foundation and fundamental definition of a peer-to-peer cash system," he added.

In the fourth quarter of 2018, HTC globally launched its first Blockchain phone, the HTC Exodus 1. To complement its Blockchian phone, HTC has also developed a cryptocurrency wallet called Zion.

Blockchain technology, originally devised for transactions of the digital currency Bitcoin, is seen as the backbone of a new type of internet in which information held on a Blockchain exists as a shared database.

HTC said it will release more information on the exact specifications and pricing of the new Exodus 1s phone over the next few months before the device is released for sale in the second quarter.

In April, HTC and Taiwanese manufacturing giant Hon Hai Precision Industry Co. made the 2019 Forbes list of the top 50 companies worldwide that are actively exploring and making use of Blockchain technology to achieve greater efficiency and better customer service.

Despite its efforts to expand its product portfolio, HTC's sales have have shown no signs of a turnaround.

In April, the company's consolidated sales stood at NT$590 million (US$19.04 million), down 55 percent from the previous month and also down 71 percent from a year earlier. The April revenue was the lowest since the company launched an initial public offering (IPO) in Taiwan in March 2002, dealers said.

In the first four months of the year, HTC posted NT$3.54 billion in consolidated sales, a year-on-year decline of 67.52 percent.

(By Jiang Ming-yan and Frances Huang)Enditem/pc