Huawei Is Ready To Provide Its Users with Bitcoin Wallets on Phone
For the first time, the users of mobile phones created by Huawei Technologies Co. will have the option to download bitcoin wallets directly on their device.
As per the vice-president of business operations BTC.COM, Alejandro de la Torre, Huawei is providing BTC.com’s Bitcoin wallet in its AppGallery from this Friday. It will be the first time the third largest handset producer will be offering a crypto wallet on its devices. According to Torre, the new devices of Huawei and Honor will contain a pre-installed Appgallery consisting the wallet application, and the currently operating phones will be updated in the coming months.
It is expected that the move taken by Huawei will have a great impact on the Chinese market as it is the biggest mobile phone seller in the country and also a hot spot for digital currencies. It should be noted that the Chinese government has already blocked Android’s Google Play Store and few sections of Apple iTunes which has prevented access to apps like BTC.com. The country has disallowed crypto trading and its mining operations in the country, but the citizens are allowed to hold digital currencies and trade them with other altcoins.
In a phone interview, Alejandro de la Torre said, “It’s a good opportunity to tap into the Chinese market. The use of cashless payments with apps is very big, and the traditional banking system is lacking, so there’s a good use case for crypto payments to grow there.”
Mining hardware manufacturer Bitman Technologies is the owner of BTC.com which manages the largest bitcoin mining pool in the world. On the other hand, Huawei is trying to develop a blockchain based mobile phone.
Vice president of Huawei’s mobile services, Jaime Gonzalo, said, “From our leadership position in China, the tip of the spear of mobile payments, we expect to see massive growth in global cryptocurrency adoption habits in the near future.”
Huawei is not the only company that is on the road to developing a blockchain based smartphone. Recently, a subsidiary company of Foxconn Technology Group, FIH mobile has joined hands with Sirin labs to create the first ever blockchain smartphone in the world named Finney. The new mobile phone will enable users to store and trade digital currencies in a fast and secure manner without a single charge.
Chief Executive Officer Sirin labs, Moshe Hogeg told that the phone would have a physical switch to activate crypto related services instead of complicated patterns, passwords and private keys. He also mentioned that in future users will be able to use fingerprint, passwords and iris scanners to protect their digital wallet.
The Chinese market has been left with limited choices to access digital currencies, and Huawei’s new project will likely give it a huge advantage over its competitors. Furthermore, blockchain applications will instill faith in the customers who have been skeptical about virtual coins after government’s decisions. It would be interesting to see who will be the next mobile phone producing company to use the technology now.