Huawei could be working on a blockchain smartphone

In a report from Bloomberg, unnamed sources have stated that Huawei is interested in integrating blockchain technology with a future smartphone release. The Chinese tech giant has been holding meetings with Sirin Labs, a Swiss firm noted for creating the Finney smartphone. The Finney, which has a target price of US$999, offers a built-in cryptocurrency wallet, distributed ledger consensus (blockchain), and secure P2P resource sharing. Sirin Labs also has its own cryptocurrency, the SIRIN LABS token, which currently has a market cap of US$95 million.

Huawei has been struggling lately with issues in regard to distribution of its devices in the lucrative US market and there are concerns about the company’s links with the Chinese state, creating possible national security obstacles. There has been speculation that by developing a smartphone that incorporates blockchain technology Huawei is visibly demonstrating a commitment to security. By offering a handset that features secure blockchain-based applications the tech giant would be potentially introducing the much-vaunted technology to millions of people, and it may assist with increased business in the US.

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