HTC reveals blockchain phone that can only be bought using cryptocurrency

HTC has launched its first blockchain phone, the Exodus 1, which the smartphone maker says has been built for the "modern user and the new internet age".

The Exodus 1 has been rolled out initially for an early access period, currently only available to users who pay in cryptocurrency - either Bitcoin or Ethereum.

The Taiwanese firm said it expects to start shipping the device in December.

The phone has many of the features found on regular flagship smartphones, including dual rear cameras and a six-inch Quad HD+ display, but also houses what HTC calls a secure enclave, which is used to hold keys to cryptocurrency.

The feature stores the information securely within the device, never sending it to a central location at any point, which HTC says ensures users maintain full custody at all times.

It also includes a social key recovery system, which helps users get their data back should the phone be lost or stolen.

It allows users to pick some trustworthy contacts, each of which much then download a key management app.

A special algorithm then splits a recovery key among the contacts so if need be it can be gathered and used to restore access to funds.HTC's Phil Chen said: "It's been both 10 years since the launch of the first Android phone by HTC and nearly 10 years since the launch of Bitcoin and the Genesis Block. Exodus 1 is a foundational element of the crypto internet.

"For digital assets and decentralised apps to reach their potential, we believe mobile will need to be the main point of distribution.

"We look forward to partnering with developers in the blockchain community to usher in this vision."

Those wishing to buy the new phone have to use crypto in do so, with the price set at either 0.15 Bitcoin or 4.78 Ethereum, which is currently just over £730.