China’s under-trial digital currency will get another head start in terms of adoption with the latest Huawei smartphone set to include native support for the digital yuan.
According to an announcement made by the official Huawei on Chinese microblogging website Weibo, it’s upcoming Mate40 smartphone series will feature an integrated hardware wallet for China’s central bank digital currency, the digital yuan.
Anyone in possession of the Mate40 smartphone series would have full control over their anonymity and also protect it, as claimed by its producers.
Users do not need to go through complicated steps before conducting transactions. They can perform dual offline transactions like funds transfer by simply touching their devices together, without needing an internet connection.
Emphasizing why this new Huawei series is different from other smartphones, the announcement said,
#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.
Also, the Mate40 is the first Huawei smartphone to utilize 5nm chip technology, a feature Apple also adopted in its latest invention, iPhone 12. As a new invention, the 5nm chip technology can carry billions of transistors, thus increasing potential power.
With the new feature — hardware wallets for digital yuan — transactions with the currency would be made easier, giving it an advantage for more mainstream adoption.
In a related development, by Coinfomania reported another move designed to foster the adoption of the digital yuan.
Leading Chinese transportation company, Didi Chuxing, in partnership with the research arm of the People’s Bank of China (PBoC) conducted a Digital Currency Electronic Payment method (DCEP) test.
With the users of the transport system adopting the program, China’s Central Bank Digital Currency (CBDC) will be exposed to more than half a billion commuters, thus creating avenues for more adoption.
This article is Originally posted on CoinCentral.com
Author: Abigail Michelle