No, Samsung is perchance no longer accepting cryptocurrency payments within the Baltics


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A rumor circulated ultimate week that Samsung had entered a partnership with vague Lithuanian blockchain startup, CopPay, that would possibly perhaps presumably enjoy it that you would possibly perhaps factor in for purchasers of the electronics broad in three Baltic states to pay for in-retailer purchases with cryptocurrency.

However now it appears to be that there changed into never a collaboration between the 2 companies within the first attach of living. A Samsung spokesperson has denied the partnership in an uncommon electronic mail to Nerve-racking Fork. “Our reputable response is that the rumor is never any longer correct,” the Samsung safe told us.

The supposed partnership changed into announced via a submit on CopPay’s Medium weblog, which has since been deleted (that you can level-headed earn entry to an archived model right here).

The news changed into subsequently picked up by completely different cryptocurrency and blockchain shops, including Cointelegraph and Bitcoin News – despite the indisputable truth that the all these publications enjoy since quietly eradicated the submit.

It changed into to be a somewhat profitable deal that would possibly perhaps presumably survey CopPay set up cryptocurrency-focused merchant gateways in 31 physical Samsung stores across the Baltic. Among others, the announcement promised give a capture to for Bitcoin, Ethereum, Litecoin, Ripple, Flee, Nem, and Steem.

CopPay even bragged that Samsung had rallied below their inspirational slogan “Turn On Future,” effectively “embracing” cryptocurrencies by the employ of their point-of-sale devices.

However, all of it has turned out to be counterfeit, without a explanation as to why the misleading announcement changed into made within the first attach of living.

Sooner than publishing this yarn, we did contact CopPay for an reputable comment, however they selected no longer to answer on to us. As a alternative, they insisted they had been speaking with Samsung – who, at the time, had been coincidentally confirming with us that it changed into purely an unsubstantiated rumor.

Fraudulent partnerships admire these enjoy been a typical incidence within the enterprise for reasonably a while now. Lend a hand in March, cryptocurrency startup carVertical impressed many with its announcement of a freshly-inked sort out German automobile producer BMW.

That, correct admire CopPay’s announcement, turned out to be, effectively, bullshit. They had been simply the employ of files retrieved from BMW’s CarData interface to envision its shared car-files blockchain platform. That files is hasty obtainable to any zero.33-birthday party, no partnership required.

Technology mainstays admire Microsoft haven’t been proof against counterfeit partnership announcements, both. Last November, IOTA printed its original files market platform in a broad announcement that incorporated the machine broad as a precise away partner. In the immediate aftermath, IOTA’s market cap amazingly grew from $2.95 billion to over $thirteen billion.

About a weeks later, Microsoft stepped ahead to snort it had no reputable partnership with IOTA.

Without reference to the misleading CopPay announcement, it is worth noting that Samsung are no longer fully ambivalent to to the advantages of blockchains.

In April, Bloomberg reported it changed into taking a look to lower transport prices by 20 p.c by incorporating distributed ledger technology into its offer chain. The South Korean electronics titan is furthermore reportedly making ready to mass-manufacture cryptocurrency mining hardware in a position to mining Bitcoin and completely different cryptocurrencies.

It changed into furthermore printed correct ultimate month that Samsung SDS, a subsidiary, is rising an birth-source, blockchain-essentially based mostly finance platform for managing digital identities, automatic insurance protection payments and completely different user-level financial companies.

Printed July 23, 2018 — sixteen:34 UTC

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