The Mate40 series will reportedly enable dual offline transactions and allow users to control anonymity.
Huawei has announced that its forthcoming Mate40 smartphone series will include an integrated hardware wallet for China's central bank digital currency, the digital yuan.
This will be the first smartphone to feature such a wallet, according to an official Huawei post on Chinese microblogging website Weibo on Oct. 30.
The post also promises that users will be able to control and protect their anonymity and perform dual offline transactions.
These enable mobile phone users to transfer funds simply by touching their devices together, even if both are offline.
"#HuaweiMate40# series is the first smartphone that supports digital RMB hardware wallet, hardware-level security, controllable anonymity protection, dual offline transactions, bringing a new safe and convenient payment experience.
Huawei is also offering a free Mate40 Pro to the Weibo user who forwards the post to the most people.
The Mate40 is the first Huawei smartphone to utilize 5nm chip technology, as recently debuted on Apple's iPhone 12.
Due to the ongoing trade war between the United States and China, Huawei will be unable to acquire or make more of its Kirin 9000 processors once its current stockpile runs out.
China's digital yuan is reportedly already in the testing stages, as several countries vie to be the first to launch a CBDC. As Cointelegraph reported, one of the major drivers behind China's accelerated development of its digital currency is to act against the influence of the U.S. dollar in global trade.
New Huawei smartphone will feature a hardware wallet for digital yuan
Published on Oct 30, 2020
by Cointele | Published on Coinage
Another mainstream company is seeking approval to invest in crypto
Anthony Scaramucci's investment firm, SkyBridge, seeks approval from the SEC to invest in crypto.
COVID-19 popularized decentralization, but blockchain may not catch on
On Nov. 9, drugmaker Pfizer announced that its COVID-19 vaccine is 90-plus percent effective, and even though it may be premature to proclaim the pandemic's end - as the virus continues to rage in the United States and Europe - once can at least speculate: Where will blockchain adoption stand when the crisis abates?
Bitcoin hits new 2020 high at $16.7K -Traders expect bigger breakout
The price of Bitcoin hit a new yearly high at $16,717 on Binance.
The next big crypto market could be fantasy sports, says Messari
As "Digitally native" ecosystems like esports continue to synergize with blockchain technology, industries like fantasy sports could be primed for mass adoption, says digital research firm Messari.