Samsung has introduced a new security chip and advance software that will enhance the security of its smartphones to store cryptocurrencies and other related data.
The company plans to add a Common Criteria Evaluation Assurance Level (CC EAL) 5+ certified Secure Element (SE) turnkey solution for mobile devices.
The new solution consists of a security chip (S3K250AF) and optimized software which will provide a high level of security. Samsung explains that, “The turnkey solution is one of the most secure hardware protections in any smartphone.”
What is Turnkey Solution?
Turnkey is completely tamper-resistant and able to store users’ confidential data completely separate from mobile storage. This solution will allow users to store their confidential data like PIN codes, passwords, and cryptocurrency private keys.
Samsung’s security chip will enable users to protect their devices from various attacks, including reverse-engineering and laser attacks. The technology will also prevent replay attacks and manage failed requests.
Dongho Shin, Senior Vice President of System LSI marketing at Samsung Electronics said that, “Strong security measures have become a crucial feature in today’s smart devices. These measures evolve into essential tools that hold the key to our data connected to various services such as the cloud and financial transactions.”
The new hardware solution is currently in production. The company is planning to embed this attractive feature in the Galaxy S20 series of smartphones. These smartphones will be released in March onwards.
Crypto-storage in a mobile device with high security will encourage more users to hold cryptocurrencies on their phones. This will, in turn, increase the brand value of the Company.
Samsung has already introduced a feature of a built-in cryptocurrency wallet and advanced data protection in the Galaxy S10 smartphone series.
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Sources: Businesswire, Cryptobriefing
