Huawei Releases Bitcoin Wallet In App Store, Pre-Installed On All New Smartphones

abdulganiy (60)in #bitcoin • 6 years ago

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Huawei, a China owned multinational communication company, has stated that its mobile phone users will be able to download bitcoin wallets on new Huawei phones beginning Friday May 10, Bloomberg reported.

The company will be releasing bitcoin wallet of BTC.com in its app store, which will be pre-installed on all new Huawei mobile phones, as said by Alejandro de la Torre, Vice President of business operations at BTC.com. It will reportedly be the pioneer digital currency application installed on Huawei smartphones.

Access to applications like BTC.com's is restricted in China as the Government banned Android's Google Play Store and a few sections of Apple's App Store. While Chinese experts close down digital currency trades and restricted initial coin contributions, individuals can even now possess cryptocurrrency. De la Torre told Bloomberg:

"It's a great opportunity to take advantage of the Chinese market. The utilization of cashless payments with applications is huge and the traditional banking system is deficient with regards to, so there's a decent use case for crypto payments to develop there."

In March, it was accounted for that Huawei is planning to build up a cell phone that will bolster decentralized applications (DApp) running on blockchain innovation. A year ago, Huawei shipped 90.9 mln units in the Chinese market, where it appreciates a predominant market share of 20.4 percent. Huawei's worldwide market share was 11.8% in the first quarter of 2018. Jaime Gonzalo, Vice President of Huawei's versatile services said in an announcement:

"From our initiative position in China, the tip of the lance of versatile payments, we hope to see huge development in worldwide digital currency adoption sooner rather than later."

A month ago, Huawei reported the dispatch of a Blockchain-as-a-Service (BaaS) platform concentrated on smart contract advancement, "a superior, high-accessibility, and high-security blockchain technology platform services for developers and businesses."

In the mean time, China is intending to release across the nation blockchain standards before the end of 2019. A committed working group has purportedly as of now started working on the project.