Huawei’s Big Step: Adding Bitcoin Wallet App to New Smartphones

As one of the biggest multinational communications technology companies based in China, Huawei Technologies Co.  reported that users of smartphones will be able to download bitcoin wallets to new Huawei devices starting from May 11, 2018.

According to business associate deputy chairman Alejandro de la Torre, Huawei is going to market’s bitcoin wallet at its AppGallery.  These applications will also be preloaded on newly purchased Huawei phones. According to what is said, this will be the first cryptocurrency application on Huawei devices.

China put a limit on the applications like in the country because the Chinese government blocks all of Android’s Google Play Store and some of Apple’s App Store.

However, some Chinese people can still possess cryptocurrencies while Chinese authorities have shut down cryptocurrency exchanges and banned initial coin offerings.

In March 2018, the word on the street was that Huawei was planning to develop a smartphone to support decentralized applications that uses the blockchain technology. Last year, Huawei sent 90.9 million items to China. It’s market share was 20.4%. In the first quarter of 2018, Huawei’s global market volume was around 11.8%. Jaime Gonzalo, vice president of mobile services at Huawei, explained in a statement:

“Starting from this mobile payment initiative that we are leading in the Chinese market, we are expecting a high rate of crypt money acceptance all over the world in the near future and growth in this regard.”

In April 2018, Huawei announced that it was going to launch a Blockchain-as-a-Service (Baas) platform which is a blockchain technology that focuses on providing services of “a high-performance, high-availability, and high-security blockchain technology platform service for enterprises and developers.” for enterprises and developers.

Meanwhile, China is considering building a blockchain regulatory scheme that will be valid throughout the country towards the end of 2019. A devoted group even has started to work on the project.

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