HTC, Taiwanese tech giant, is reportedly planning to launch a blockchain-powered Android smartphone. Reports say the smartphone maker is working on a new Android phone named "Exodus" that will run on blockchain technology, and will facilitate cryptocurrency trading among the phone users. 

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"The upcoming phone will come with a "universal wallet" and a built-in secure hardware system to support cryptocurrencies and decentralised applications," said IANS, quoting TheNextWeb.

Blockchain smartphones are claimed to offer better security and user experience by integrating "cold wallet" storage right into the device and enabling direct trading of the native cryptocurrency with peers on the phone's network, without mining fees.

Phil Chen, the brain behind HTC`s Virtual Reality (VR) headset "Vive" will be in charge of all blockchain and cryptocurrency related initiatives of HTC including Exodus, said the report. 

"Through Exodus we are excited to be supporting underlying protocols such as Bitcoin, Lightning Networks, Ethereum, Dfinity and more," Phil Chen was quoted as saying by TheNextWeb.

HTC has not yet announced the price of the smartphone but the company is reportedly considering accepting cryptocurrency as a form of payment for the device.

Before HTC, Sirin Labs' blockchain smartphone which was announced in September 2017, is slated to launch in October 2018, said IANS.