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Chinese Smartphone Maker Smartisan Looks to Launch a Blockchain Phone, But Has No ICO Plan

Luo Yonghao, the founder and CEO of the Beijing-based smartphone maker Smartisan, said in a recent interview with with entrepreneur Wang Feng that Smartisan will definitely make its own blockchain-powered phone and there is no plan to launch an ICO before the introduction of clear regulatory policies.

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Smartisan unveiled its flagship of this year, Smartisan Nut R1 which describes itself as the world’s first handset with 1TB of storage ans is capable of running a computer, at the Beijing National Stadium on the evening of May 15. Luo’s keynote presentation at the new product release conference attracted tens of thousands of his diehard fans’ attention who speak highly of the stunning industrial design of Smartisan phones.

When asked about whether he wanted to launch a blockchain phone, the English-teacher-turned-prankster-turned-entrepreneur said that the smartphone industry “sees growing homogeneity and runs into a bottleneck of innovation. Those big manufacturers, however, do not care about this because their success is not driven by innovation. Smartisan will definitely launch its blockchain phone, but details about it are not convenient to be disclosed now”.

Besides, He acknowledged that he has put 1 million yuan($160,000) in cryptocurrency several years ago, but his investment saw big jump recently.

“ It is true that in the early days of Smartisan, I bought into cryptocurrencies following my friends’ advice. Then I worked hard day and night, until recently I found my investment fund of over 1 million jumped to 30 million yuan.” Luo said.

But he refused the plan to launch an ICO to raise capital for Smartisan now. “I don’t like speculative business, so I will not spend time and energy on cryptocurrency trading. And I will not consider an ICO before the regulatory policies are formally introduced by authorities. ” Luo said, “But I firmly believe that blockchain has the potential to transform the world. We have been actively learning and researching blockchain applications.”

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