The world's largest smartphone maker Samsung is testing its own blockchain network with native token. However, the fate of this project remains in question.

Samsung is developing a blockchain network based on the Ethereum ecosystem, reported CoinDesk Korea, citing a source familiar with the internal corporate discussion of this project at Samsung. Samsung created a blockchain project development task force a year ago. But the project is still in an experimental stage.

“Currently, we are thinking of private blockchain, though it is not yet confirmed. It could also be public blockchain in the future, but I think it will be hybrid – that is, a combination of public and private blockchains,” the source said.

Additionally to its own blockchain, the world's largest smartphone maker may launch the Samsung Coin.

“The market expects Samsung Coin to come out, but the direction has not yet been decided.”

Samsung may also incorporate the blockchain technology into its Samsung Pay payment application, but according to the source, this issue is also a subject to be discussed.

According to the information received, the blockchain project task force is actively working in several areas at Samsung for at least a year.

Two months ago, Samsung presented its flagship mobile phone Galaxy S10, which is equipped with a crypto store for private keys, as well as other services, such as support for blockchain-based digital signatures. S10 also supports decentralized applications (dapps), such as the Enjin crypto gaming platform, the Cosmee blockchain platform for beauty salons, CryptoKitties and the CoinDuck merchant payment service.

In March, Samsung revealed its cryptocurrency wallet compatible with ERC20 and Ethereum tokens. Although the wallet is preinstalled in the S10 series, it is still inactive in some jurisdictions.