Huawei Technologies, a Chinese communications technology giant, has recently announced that its users will be able to download bitcoin wallets through the company's app store AppGallery, which will be pre-installed on all new Huawei and Honor smartphones.
BTC.com is a web wallet originally created by Blocktrail and now owned by Bitmain Technologies, which sells Bitcoin miners using its ASIC chip technology. The information has been released by Alejandro de la Torre, Vice President of Business Operations at BTC.com, during a phone interview with Bloomberg.
The release of the Bitcoin wallet app is likely to have the largest impact in China where Huawei is the top phone seller. The companies want to usher in "millions of new cryptocurrency users" and make it easy for them to send or receive BTC and BCH among friends. The including of a Bitcoin wallet in a large part of Chinese smartphone can accelerate adoption.
This latest move signals a rising trend towards the crypto-sphere from Huawei, who launched their own blockchain-as-a-service platform barely a month ago. 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".
At the same time vice president of Huawei's mobile services Jaime Gonzalo also has a lot of expectations.
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"Cryptocurrencies have recently expanded the human understanding of digital economy at a large scale". In the third quarter of 2017, Huawei dominated the competitor landscape accounting for 19.4 of the market share according to a November report by IDC.
Multisignature keys: secure backup mechanism with BTC.com where user maintains control with two out of three keys.
Integration with BTC.com's popular Block Explorer to check on transactions.
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.
The wallet will provide support for bitcoin and bitcoin cash, and could propel Huawei's popularity further in Europe, where it has been gaining a foothold in recent times.