Samsung has dispelled rumors that a Trademark 5 (TM5) filed on the name “Samsung Coin” with the Korean Intellectual Property Office (KIPO) is in any way affiliated with the South Korean tech giant. 

As reported by Cointelegraph, the filing was applied for by a man named Kim Nam-jin on July 10. On July 19, a Samsung representative said Kim was not affiliated with the conglomerate, and that the trademark filing was not consistent with its practices.

Notable Absence of Key Blockchain Trademark Indicators 

The trademark was listed under categories including downloadable electronic money computer program, electronic money card, electronic encryption device and IC card with electronic money function. Notably, there was no mention of blockchain or cryptocurrency.

Kim reported to have made previous attempts to trademark a seemingly crypto-related term associated with Samsung, having also entered an application with KIPO for the name ThinQ Wallet on the same day that he filed for Samsung Coin. However, LG Electronics had already filed the ThinQ Wallet trademark for a proposed crypto wallet as of July 2.

Samsung is No Stranger to the Blockchain and Crypto Space

On July 10, it was reported that Samsung announced the release of its blockchain and decentralized application (DApp) Software Development Kit (SDK). 

The Samsung Blockchain SDK enables account management and backup; payment and digital signature facilitation; Samsung Keystore and other cold wallet support. The website dedicated to the kit further describes it as a superset of all SDKs, which includes the Samsung Blockchain Keystore SDK.

Samsung’s latest flagship smartphone, the Galaxy S10, also includes storage for private cryptocurrency keys. 

Source: https://cointelegraph.com

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