South Korean citizen unaffiliated to Samsung files trademark application for â€˜Samsung Coinâ€™
In a report dated July 19, CoinDesk stated that someone named Kim Nam-jin, a South Korean citizen, has actually filed documents with the Korean Intellectual Property Office (KIPO) for trademarking â€œSamsung Coin.â€
On July 10, Kim Nam-jin made the filing under computer program-related categories, such as â€œdownloadable electronic money computer program,â€ â€œelectronic money card,â€ â€œelectronic encryption device,â€ and â€œIC card with electronic money function.â€
A Samsung representative, however, confirmed to CoinDesk that it had nothing to do with the trademark application.
â€œWe donâ€™t work this way,â€ the representative said.
It is important to note here that anyone can submit a filing for a trademark that involved the Samsung brand. That said, it seems like a fair bet that the tech giant will not let this go without a fight.
Earlier in May, reports suggested that the company was working on creating its own blockchain network and could issue its own native token â€œSamsung Coin.â€
Samsung had already revealed that it was investing heavily in blockchain. To that end, it is not unlikely for the company to create its own crypto coin.
Earlier this year, the company integrated Blockchain Wallet into its Galaxy S10 and reportedly has plans to introduce cryptocurrency and blockchain functions to its budget Galaxy models. More recently, it released six new dApps to be integrated into the blockchain wallet of its Galaxy S10. It has also announced the beta launch of its blockchain Software Development Kit (SDK).
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