Chinese smartphone manufacturer Huawei, which is just behind Samsung and Apple in terms of sales, is considering developing a smartphone for Blockchain-based apps, according to two people familiar with the plans.
Huawei is reportedly in talks with Sirin Labs to license their operating system, SIRIN OS, to run blockchain apps alongside Alphabet INC’s Android system. The discussion is in its earliest form, and no agreement has been signed, claims the people who asked not to be named because the talks are private.
Both parties confirmed the news that they had met but refused to reveal anything more about the project. If it turns out to be true, we would be seeing for the first time a smartphone manufacturer venture into the blockchain, the decentralized ledger used to record cryptocurrency transactions, bringing the technology to the masses. The cryptocurrency market is a profitable venture, bringing fortunes to those who apply the technology in the right way. According to the reports, the Cryptocurrency market has grown 15 times to about $350 billion in the past 12 months.
The “people” claimed Huawei executives have been meeting up with the Sirin Labs’s team over the past two months. Also, a caption under a picture on Sirin Lab’s chat group reads, “Amazing meeting just concluded between Sirin Labs and Huawei. Among other things discussed was the possibility of cooperating to bring blockchain technology to the masses in a secure way.”
Sirin Labs is also reportedly working on its Blockchain-based smartphone and may be merely lending the technology to Huawei. Nimrod May, spokesperson of Sirin Labs, revealed the company is planning to sell its Finney phone for about $1000 after the second half of this year and has pre-orders for more than 25,000 units. The company also plans to develop an embedded cold storage crypto wallet and a system that automatically converts fiat money to digital tokens required to run different blockchain applications for its smartphone. The purpose of cold storage wallets is to store digital assets offline.
This deal may earn enormous profits for Huawei in the future, where blockchain technology will be a household name. With a headstart, the company will be ahead of the likes of Apple and Samsung.