Foxconn Signs on to Manufacture $1000 Blockchain Phone

Taiwanese electronics behemoth Foxconn is reportedly getting onboard to develop and manufacture ‘Finney’, a blockchain phone from Sirin Labs. Codenamed the Finney, Swiss startup Sirin Labs first announced its Android-based open-source ‘blockchain’ smartphone with features including a built-in cold storage cryptocurrency wallet, encrypted communications and peer-to-peer resource sharing late last year. The startup raised $158 million for the Finney project, which includes a desktop, in an initial coin offering in December.

Bloomberg is now reporting that a subsidiary of Foxconn, the electronics giant that mass-manufactures popular hardware devices like the iPhone, has ‘agreed to help develop and produce’ the smartphone. The device will be developed with a physical switch that activates a cache of cryptocurrency-related services. The smartphone will also support and integrate all kinds of tokens, the startup said.


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