Author: Anatol Antonovici
Senior Reporter
Anatol Antonovici

HTC to Launch a Second Version of Its Blockchain Phone

Taiwan-based smartphone maker HTC revealed its plans to develop and launch the second version of its blockchain-oriented phone – the Exodus 2. The company’s chief decentralised officer Phil Chen said at an investment trend forum organised in Taipei 101 that he anticipated the launch date to come by the end of this year. HTC’s move suggests that the demand for the first generation of its blockchain phones – Exodus 1 – was high and the sales met the target. Interestingly, when HTC released its first blockchain smartphone in October 2018, it called it Exodus 1 rather than just Exodus, hinting to more such versions to be developed soon.

HTC Ready For Another Blockchain Phone Despite Recent Correction

While the cryptocurrency market suffered one of the most difficult periods when it started its steep correction in November 2018, the interest in blockchain-based smartphones maintained high.

Chen expressed his strong confidence in the distributed ledger technology (DLT), an umbrella term that also includes blockchain. He said that the technology involved commercial value similar to petroleum from the 1900s onward, with the main benefits lying in the accessibility of data while keeping user privacy. The executive revealed that crypto users were the main contributed that supported the sales of Exodus 1, which hosts a digital wallet called Zion. Besides crypto users, new startups that are involved in the crypto space have also contributed to the demand for the first version of the device.

According to Chen, the Exodus 2 will include more decentralised applications (DApps) and will operate on Android. It will incorporate crypto-related features like a digital wallet for cold storage of coins, secure access to exchange, encrypted communications, and a peer to peer resource sharing network for payments and applications.

While the executive didn’t disclose the price tag of the upcoming model, the Exodus 1 could be purchased at about $960 per piece, which puts it on the same price level with the premium phones like Samsung Galaxy S9 or iPhone XS.

HTC Confident in Blockchain

The Taiwan-based company wants to be at the forefront of the blockchain adoption. In February of this year, HTC reached a partnership agreement with web browser provider Opera to develop a cryptocurrency micropayments functionality available through Exodus 1.

During the same month, the phone maker added a DApp called Numbers, which tracks user data related to walking, sleeping, driving, and more, and then allows them to sell it to crypto-oriented firms.

Last month, HTC said that it would invest in a $50 million venture capital fund that will invest in new blockchain startups. Called Proof of Capital, the fund intends to contribute to the widespread adoption of blockchain and cryptography. The fund is led by HTC’s Phil Chen, Edith Yeung, who was head of mobile at 500 Startups, and Chris McCann, whose headed up community for US-based VC firm Greylock Partners.

Meet The Author
Anatol Antonovici
Anatol Antonovici
Senior Reporter
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Anatol has been writing for our news site for a year and is the newest member of our team. While he’s new to us, he’s certainly not new to trading with over 10 years’ experience being a professional financial journalist and working in the markets. Learn more.

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