In the coming years HTC is putting lots of focus on the development of blockchain phones and virtual reality. They believe that a focus on innovation can turn around the company towards growth. As a result the Exodus blockchain smartphone is now at the center of attention for HTC, alongside the virtual reality headset HTC Vive.
The reasons for the company to focus on their blockchain phone and VR headset aren't very pleasant, as they will downsize the company. Currently there are three thousand people at HTC. Several Taiwanese news media reported about the financial struggles at the electronics company. This is the third round of job cuts in the past five years. In 2015 they let go 2250 employees, followed by another 1500 in July 2018.
HTC released the Exodus 1 last year, and a cheaper follow-up in October. The HTC Exodus 1S is less powerful, but is capable of running a node on the Bitcoin network. In addition the company partnered with cryptocurrency exchange Binance to incorporate the exchange's own Binance Chain into a Binance-branded version of the Exodus 1S.
Why blockchain phones could safe HTC
The Exodus smartphones can connect to decentralized networks and allow users to download and run decentralized applications, also known as dApps. In addition the phone also functions as a hardware wallet, giving owners a secure way to store their cryptocurrencies. However, all this doesn't make the HTC Exodus 1 an one hundred percent blockchain smartphone.
A real blockchain phone would be able to connect to a decentralized network without using regular mobile phone operators. Pundi Labs has for example build the BOB, which is the first phone that's capable of running completely on decentralized technology. However, decentralized networks aren't available everywhere and not every phone is yet connected to it. Therefore it doesn't make a lot of sense yet. Thankfully the BOB can also switch to a regular Android mode.
That being said, the arrival of 5G wireless internet could move forward to development of decentralized networks. China Telecom believes that soon every smartphone will be part of a blockchain network. If HTC would be able to tap into this market early, they could once again become the major player they once were almost a decade ago.
Posted from my blog: https://www.nederob.nl/2019/12/19/blockchain-smartphone-and-vr-focal-point-htc/