Latest Huawei to offer Bitcoin Wallet in the App Store
Huawei is the third largest mobile phone manufacturer with a great customer base in China. The telecommunication firm has upscaled its operation by introducing a new cryptocurrency wallet App from where users can receive, send and store their BTCs. This will be the first App developed by Huawei as a Bitcoin wallet. Even though there have been restrictions from the Chinese government to adopt digital currencies, cryptocurrencies are becoming globally accepted, and this App is a futuristic approach to use Bitcoin.
The Chinese based smartphone manufacturer has partnered with BTC.com, a subsidiary of Bitmain to roll out the mobile Bitcoin wallet. However, the App will come pre-installed in Huawei’s new devices which include the Huawei Honor models. For the older models, the App will be available in AppGallery for download. AppGallery is a proprietary store associated with Huawei that was launched early March. The AppStore was developed after restriction by the Chinese government to make the app available in Google Play AppStore and Apple’s iTunes store.
Moreover, the Store will also be available in the form of a pre-install in modern Huawei devices, but it is expected that in the second quarter of 2018, it will be available for older Huawei versions.
According to Huawei Mobile services Vice president Dr. Jaime Gonzalo, the use of digital currency has expanded how human perceive digital economies from a broader scope. Thus, the rolled out bitcoin wallet app to Buy Bitcoin should bring about extensive growth in the use of global cryptocurrencies.
Similar insights were given by BTC.com the giant Bitcoin mining Vice president Alejandro de la Torre. He said that the partnership would beef up the operations of BTC.com development of cryptocurrencies and blockchain.
Huawei has been trying to keep up with blockchain developments and adoption of cryptocurrencies. Previously, the smartphone manufacturer had launched a platform a month ago that is similar to the blockchain, it is commonly referred to as Blockchain-as-a-service (BaaS). The platform was built on Hyperledger Fabric 1.0 technology which is a development from Linux. Huawei is still a member of the consortium launched in 2016 which incorporates Linux Foundation’s Hyperledger Blockchain.
The Bitcoin wallet app from AppGallery was reviewed and officially released to different countries for download not including China’s mainland. This is a result of China’s continued crackdown on cryptocurrency trading in local markets. Initially, the Chinese government banned all Initial Coin Offerings (ICOs). The move followed a close down of all domestic BTC exchanges.
With Huawei being the largest mobile device provider in China, the adoption of the Wallet App is expected to bring growth to the market for cryptocurrencies. This is undoubtedly the best time for Huawei and BTC.com to roll out the partnership as most of Chinese are expected to spend most of their time on mobile devices. Nonetheless, mobile payments are becoming popular in China after major companies such as Alibaba are accepting digital currencies for their mobile payments. Other local companies are also providing financial services on digital payments irrespective of the continued crackdown on cryptocurrency trading in China.