Lenovo to release blockchain smartphones

One of the top Chinese computer manufacturers Lenovo is struggling to find a solid footing in the mobilephone world, betting on blockchain industry to reclaim its share in the marketplace. It is reported that Lenova is planning to launch its flagship full-screen smartphone this June. Blockchain technology will be one of the new smartphone's key features, according to Lenovo's executives during an annual team meeting held in April. A month ago, its budget phone Lenovo S5, which was claimed to be the world's first blockchain-based smartphone, was unveiled by the company under a high-profile marketing campaign to compete with the likes of Xiaomi's Redmi Note 5.

The Lenovo S5 is equipped with encrypted payment system which can create a world where online transactions can be settled in a much safer way, according to the company's statement.

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