Being able to have a portable secure wallet for your blockchain cryptocurrency is like having virtual money in your cell phone.
This is a big step forward for easy to use blockchain payments and token trading for anything potentially, using just your phone as the “node” in the decentralized finance system.
There are now specialist cellphones like exodus that use blockchain locked into the phone hardware to provide a secure digital wallet for the user and their data.
Adoption has been slow because of a lack of user awareness and blockchain services locked to cryptocurrencies locked into specific blockchains a user might adopt.
“Blockchain” phones that come with preloaded hardware secure digital wallet will need to be supported by big banking and services if it’s going to compete with launches such as Apple Pay and other non-blockchain services.
The business case, in theory, of better low-cost blockchain services with user control still hasn’t been made to the everyday consumer. More work needs to be done to design tokens and decentralized markets that can drive better choices and revenue opportunities for buyers and sellers. This has yet to go mainstream in retail or banking still stuck in cash and banking ledgers and credit clearing.