A subsidiary of Foxconn has agreed to help develop and produce a blockchain phone from Sirin Labs, according to the startup. The new device, called the Finney, is designed to help owners securely store and use digital coins such as Bitcoin, as well as related services.

Finney, the world’s first blockchain-based smartphone, can automatically convert tokens for the use of decentralized applications, without having to obtain the different tokens through an exchange, Sirin said.

Sirin Labs plans to launch the first working prototype of the FINNEY by mid-Q2 2018, followed by the product launch later this year.

In December of 2017, Sirin Labs conducted the 4th largest crowdsale in history, raising $157.8M for the development of the FINNEY family of consumer devices.

Moshe Hogeg, Co-CEO, SIRIN LABS:

“Bringing the first blockchain-based smartphone to market obligates us to partner with the very best in the market. FIH Mobile – the gold-standard in smartphone manufacturing – was ultimately the clear and natural partner for us.”

 

Sirin plans to sell the device through eight new stores located in Vietnam and Turkey and has so far more than 25,000 units preordered, according to a Bloomberg report bloom.bg/2IqjAQD.

Sirin aims to ship from 100,000 to a few million units this year, the report said.

Sirin is hoping to get to the mass market before competitors like Zippie and BitVault.

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