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Huawei Mate 40 Will Support Digital Yuan Wallet

By Tony Chimdiuto Oct30,2020 #Bitcoin #cbdc #China
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Huawei Mate 40 will Reportedly Support the new Chinese digital yuan according to Huawei in a recent announcement on the company’s Weibo Channel. 

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Announced on Huawei’s Weibo channel Friday, the Mate 40 new upgrade will feature a built-in hardware wallet with “hardware-level security, controllable anonymous protection, and dual offline transactions,” the tech giant explained.

Since after the recent announcement of the testing phase, this is the latest update that the CBDC, developed by the People’s Bank of China, is likely to be ready for nationwide use. 

Read Also: China to Form National Blockchain Committee With Tencent, Huawei, Baidu and Others.

In the previous weeks, around 10 million digital yuan was distributed to residents in the city of Shenzhen following a public trial in a kind of lottery style. 

The free Digital Yuan can be spent on stores across the region using a smartphone mobile app via point-of-sale device that can process the transaction. 

The date for the release of Huawei Mate 40 is still unconfirmed. But the price of the device still ranges around $1,000 alongside iPhone 12. Earlier before now the two brands have being competing with each other on delivering top notch devices with focus on competitive price structure.

Moreover, there are still uncertainties concerning the availability of the device in regions that are not Chinese region. Since the wallet will be supporting CBDC, or probably other devices that will ship outside the region won’t be supporting it.

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By Tony Chimdiuto

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