A partnership between Huawei Technologies and BTC.com will give crypto traders more than they would have asked for. If the duo reaches an agreement, users of Huawei devices will be able to access a Bitcoin wallet from their mobile phones. According to BTC.com’s vice president of business operations, Alejandro de la Torre, the cryptocurrency wallet can be downloaded through Huawei’s AppGallery appstore
The new move comes at a time when the cryptocurrency industry is gaining momentum. At the same time, some countries the likes of China have banned the business. The Chinese government banned cryptocurrency trading platforms including Android’s Google Play Store and Apple’s iTunes. However, de la Torre says that the use of cashless payments with apps will come in handy.
The development of the WalletApp
The Huawei AppGallery is set to be the first digital currency app for Huawei phones. Having been developed by the dominant mining company, Bitman technologies, it will first be pre-installed on all new Huawei and Honor phones. However, in the coming months, the company says the same shall be rolled out to older devices.
The mining company controls the largest Bitcoin mining pool in the world. Nonetheless, following a successful review and approval by AppGallery, it has officially been released in multiple countries and regions.
Will Huawei’s foray into the cryptocurrency space have any impact on the Chinese market?
There is this strong belief that the Bitcoin wallet will be a safe haven for the users. They will be able to store the cryptocurrency while protecting it from hackers. Meanwhile, the market has received mixed reactions given the restrictions by various governments.
Apparently, all eyes are now on China as it remains unclear whether or not it will consider undoing its restriction. However, the vice president of Huawei’s mobile services, Jaime Gonzalo is confident that the tip of the spear of mobile payments is likely to result into massive growth in the adoption of global cryptocurrency habits in the near future.
Meanwhile, the Chinese multinational communications technology company has gone ahead to launch a blockchain-as-a service (BaaS) platform, which will come in handy in helping companies build smart contracts.