Smartphones have become such an essential part of modern-day existence that many people could not imagine what their lives would be like without their handy devices by their side. The bane of the smartphone is a fast draining battery, but what if there was a piece of technology that could charge one's smartphone in just 10 minutes?

In a report with International Business Times, a smart battery chip just might be the solution to many problems of lithium-ion batteries. The piece of technology was developed by Professor, Rachid Yazami, from the Nanyang Technological University in Singapore. The smartphone battery chip is reportedly small enough to be incorporated in almost all batteries. Yazami said that the chip can be embedded in everything, from the batteries of mobile devices and even in the power packs found in advanced aircraft.

The engineer's latest discovery says that the smart chip would allow batteries to be charged at full speed by measuring the battery's voltage and temperature. The chip would also alter the amount of current reaching the battery, the report says.

Today's lithium-ion batteries are only being drip-fed a charge because there is the danger of the device being overheated. Yazami's chip would also give batteries the ability to charge at a much faster rate and it would be safer since the chip would also detect faults. Yazami is currently in the process of negotiating deals with tech giants Sony and Samsung. The engineer also said that he is scheduled to talk with Tesla.

One of the main requests of many smartphone users is the improvement of the device's battery life. It has become a chief issue in many smartphones in the market nowadays. To date, many companies have only improved in the area of faster charging, as opposed to improving battery life itself.

Yazami told the International Business Times that this type of technology only degrades batteries in the long run, while his techology improves the life of batteries.

Energy Harvesting Journal reported that Yazami said that it was his goal to ensure that all batteries will have this chip and that it will reduce the incidence of fires and accidents caused by batteries that have overheated. He also said that he hopes to improve the life of many batteries, thanks to this piece of technology. 

The smart battery chip is currently being developed by KVI, Yazami's start-up company. The chip is expected to be made available for licensing by chipmakers and battery manufacturers by the end of 2016.