Samsung Electronics Files Patent for Smart Contract Cryptocurrency Wallet

Samsung Electronics has filed a patent in the United States for a digital wallet technology that allows users to request cryptocurrency transactions through smart contracts without directly managing their private keys. The patent, titled "First electronic device configured to generate a smart contract for performing wallet functions, its operation method, and a second electronic device for performing digital asset transactions using the smart contract," was published on July 23. This technology reduces the burden of private key management by enabling smart contracts to perform digital asset wallet functions. In the existing method, users had to sign transaction information using their private keys, but the new method allows smart contracts to handle the transactions. Additionally, the structure includes the capability for multiple electronic devices to manage a single wallet. Samsung emphasized that this technology can be integrated with various electronic devices, including smartphones, computers, and wearable devices. The patent application does not imply actual product development or commercialization, and Samsung has not disclosed specific plans regarding this technology.

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