TAIPEI (Taiwan News) – Taiwan-headquartered electronics manufacturer HTC is set to release a second-generation blockchain phone in the second half of the year to increase its presence in the global blockchain market.

The announcement was made by HTC Decentralized Chief Officer Phil Chen (陳信生) in a keynote speech on the topic of decentralization. The speech was featured at an investment trend forum held at Taipei 101 on Friday (April 26).

Chen said the development of blockchain technology is still at a nascent stage, but he envisions a future where the advancement of the technology will unlock tremendous commercial potential. This could be seen as analogous to the commercial value of petroleum from the 1900s onward, Central News Agency quoted him as saying.

The benefit of blockchain lies in the accessibility to data while ensuring privacy for users, Chen added, underscoring the value of the relatively untapped technology.

HTC rolled out its first blockchain phone – HTC Exodus – in the fourth quarter of 2018 and sales have been in keeping with the company’s expectations. In addition to the release of the latest version blockchain phone, HTC is also looking at a broader digital asset management product line, including cryptocurrency applications, said Chen.

The consumer electronics giant recently announced plans to invest in the US$50-million blockchain fund “Proof of Capital.” The move will involve the development of the company’s blockchain phones.