Huawei expects "massive growth" in crypto adoption, offers first mobile wallet

James Marshall
May 11, 2018

And now that it is making BTC wallets accessible on its devices, the move is sure to make a large impact on the Chinese market.

China accounts for nearly 62 percent of all global mobile transactions.

China: Report reaching Cryptona.co states that the China-based smartphone and telecommunication provider, Huawei Technologies Company, yesterday 10th May, announced the release of BTC.com's Bitcoin wallet. There is now no competitor to this company that controls the cryptocurrency mining market.

In the past few months, the Chinese government has created a rather hostile environment for the cryptocurrency and blockchain industries - shutting down all cryptocurrency exchanges and outlawing ICOs completely. That said, the effort to boost cryptocurrency wallet support is still a notable move by Huawei, and is likely to open up cryptocurrency services to a potentially huge user base. It also publishes an ‎Android wallet, an iOS Wallet, a Bitcoin API, a block explorer and a mining pool‏.‏.

At the same time vice president of Huawei's mobile services Jaime Gonzalo also has a lot of expectations.

"Cryptocurrencies have recently expanded the human understanding of digital economy at a large scale". Since the Google Play Store is not available in China due to the Great Firewall, BTC's App represents a significant opportunity to capture a solid portion of the market share in China. He said in his statement: "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". Five manufacturers now account for three out of four mobile devices sold in China. For the fourth quarter of 2017, Huawei topped Chinese sales, with shipments of 24.3 million and a market share for the quarter of 21.3 percent, up from 16.8 percent in Q4 2016.

Multisignature keys: secure backup mechanism with BTC.com where user maintains control with two out of three keys. The company is now committed to providing Bitcoin Wallets on all their new smartphones. That is the reason why Huawei selected BTC.com as our recommended quality app to manage digital currencies.

Other reports by Click Lancashire

Discuss This Article

FOLLOW OUR NEWSPAPER