Huawei, the third smartphone maker to adopt blockchain technology!!
Blockchain has now become a buzzword used to try and get the attention of investors these days but it is actually something beyond marketing tactics. Now Huawei is the latest is in talks with Sirin Labs to certify a specific operating system that functions on blockchain apps in parallel with a standard Android installed apps on the phones.
Introducing blockchain technology as a share to a mass-market hardware device will surely be a breakthrough in getting the general public to understand how decentralized ledger works. This would be the first blockchain-enabled smartphone in the market actually bringing a broader understanding of what blockchain technology is to the public and therefore introducing broader reaching applications of the technology. One of the more remarkable features in Huawei smartphones is the inclusion of a cold storage cryptocurrency wallet. This Chin based company is hopeful to follow this move if it does formalize a licensing deal and getting an edge among its competitors. Crypto assets would be able to be converted digitally to fiat currency automatically from the built-in wallet. Offline storage of digital currencies is tremendously secure provided that the private keys are backed up and never shared.
Keeping a public and mostly secret registry of active devices for warranty purposes would be possible via blockchain technology implementations. Huawei will allow phones to be registered using a blockchain system so that proof of ownership is easily verifiable. Proving ownership of a device could then be performed by producing the private keys associated with the appropriate ledger record.
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