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SirinLab Announces Blockchain-based, Smartphone. ICO soldout in 24 Hours

15 january 2018, 11:59 by

Smartphones are rarely designed with security and privacy features at the fore. Developers want their devices to sing and whistle and shine like the stars, but the users will have to ensure the security of their devices and privacy through third-party apps. In most cases, the user’s device is eventual compromised due to the reactive nature of these third-party solutions.

SirinLab Announces Blockchain-based, Smartphone. ICO soldout in 24 Hours

With cryptocurrency increasingly becoming mobile - wallets, payments solutions and mining features - these devices have become vulnerable to malicious attacks intended to fleece owners of their hard-earned assets. Most apps require permissions to access certain features on installed devices, most common of which is the contacts and location. Without granting these permission, the app will not function properly. However, granting these permission exposes the user to hacks and phishing attempt through data harvest. SirinLab’s smartphone is an security-aware smartphone powered by blockchain technology that aims to eliminate these concerns once and for all.

Kicking off with the launch of high-end secure smartphone, Solarin, worth an eye-bulging $14000 in the early months of 2016, SirinLab announced its intentions surrounded by celebrity guests including Leonardo DiCaprio. The launch marked the start of SirinLab innovative ideas concerning mobile security, it did not take long for the company to leverage blockchain decentralization technology for added values and the immutability of those values.The concept of cryptocurrency layered on hardware created another smartphone - Finney. SirinLab has declared the smartphone as the only secure phone in existence. It comes with a preloaded Ethereum mobile client Status, enabling it to interact with smart contract,  cryptocurrencies, and decentralized applications (dApps) on the Ethereum. Finney technology is not limited to smartphones but also includes personal computer that host blockchain technology for protection against cybercrime and hacks.

SirinLab launched an ICO to fund the development of the project, which promptly got sold out in less than 24 hours, becoming the fourth most successful ICO sale, raising $157.8 million.

”We are both humbled and thrilled by the support that Finney has received during the course of our crowdsale” says Moshe Hogeg, founder and co-CEO. “Becoming the fourth-largest crowdsale of the year shows both the need in the market, and usefulness of having devices that can support and secure cryptocurrencies. It really is the first step in bringing blockchain technology to a more mainstream audience”

The Finney smartphone with preload Status OS is currently priced at under $1000, while the PC will ship at $799

"Our goal is to standardize blockchain technology while maintaining a simple and friendly user experience, Blockchain trade and cross-platform experience is anything but seamless these days. Together with Status, and additional strategic partners, we will develop a secure open source OS to connect between tokens and allow those transitions to be completely seamless and fee-less to the user, which will speed the mass adoption of the technology.”

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