Huawei Supports Bitcoin Wallet App as China Cracks Down on Cryptocurrency

Huawei, which is the third largest smartphone ‎manufacturer in the world, has announced a partnership with ‎BTC.com which will allow users to download Bitcoin wallets through ‎its app store — AppGallery.‎

Soon, the users of Huawei smartphones will gain access to the pre-installed cryptocurrency ‎app which will be available on their devices, no matter which part of the world they reside in. ‎The app store already comes pre-installed with the recently launched P20 and P20 Pro ‎smartphones.‎

BTC.com is a web wallet created by Blocktrail and now owned by Bitmain ‎Technologies, which sells Bitcoin miners using its ASIC chip technology. It also publishes an ‎Android wallet, an iOS Wallet, a Bitcoin API, a block explorer and a mining pool‏.‏

China is unarguably the biggest cryptocurrency market in the world, but the government has ‎been escalating its clampdown on the sector. Additionally, local app stores must register with ‎the authorities as they sought to regulate the industry of app stores.‎

As such, the usage of Huawei’s new crypto features could be limited as the same apps on ‎Google Play store are banned in the country. Before that, Apple was also made to take down some of their ‎services from the Chinese market.‎

Earlier in March, Huawei was reportedly on the verge of making a significant step towards ‎‎penetrating the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term space. Bloomberg said that the Chinese smartphone maker and ‎‎telecommunications giant is in talks to license SIRIN LABS’ operating ‎system and could reach ‎an agreement in the coming ‎weeks.

Commenting on the news, Jaime Gonzalo, vice president of Huawei Mobile Services, said‏:‏ ‎‎‏“‏Cryptocurrencies have recently expanded the human understanding of digital economy at a ‎large scale…We expect to see massive growth in global cryptocurrency adoption habits in the ‎near future‏.”‏

He added: “The use of cashless Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term 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. It’s a good ‎opportunity to tap into the Chinese market.”‎