Huawei in talks to develop handset for cryptocurrencies that will run Blockchain applications?



Huawei is reportedly looking to work out a deal with Sirin Labs to license its SIRIN OS for use in a new phone that would focus on cryptocurrencies. According to two sources cited by Bloomberg, the phone will be able to run Blockchain-based applications. Blockchain is a digital ledger used to record cryptocurrency transactions chronologically. The Blockchain is not stored in one specific location, making it nearly impossible for hackers to corrupt. It was first created for Bitcoin, the most well known cryptocurrency at the moment.

According to reports, Huawei's phone would also run Android in addition to the secure SIRIN OS. Since the phone would feature a cryptocurrency wallet, security would be "job one," as they say at Ford. Ironically, Huawei's handsets and networking equipment have been publicly denounced by the U.S. government for possibly sending consumer data to servers in China via a back door. As a result, the Huawei Mate 10 Pro will not be available from Verizon and AT&T as expected. Additionally, Best Buy said that it will not replenish stocks of the handset and will no longer sell Huawei branded phones.

Sirin Labs plans to launch its own Blockchain based handset in the second half of this year. With a target price of $999, the Finney will include a crypto wallet with the capability of storing cryptocurrencies offline. It will also offer a system to convert legal currency into the digital tokens needed to run Blockchain based applications. Sirin Labs says that it has pre-orders for 25,000 units so far. And if you click on the video at the top of the screen, you'll see that Finney features an edge-to-edge display (5.5-inches) and a notch. It will also be equipped with 64GB of native storage, 6GB of RAM, and a camera combo that from back to front weighs in at 12MP and 13MP, respectively. The phone offers a secure method for receiving and sending payments. The video mentions the "computational power" of the device, hinting that it might be helpful in mining cryptocurrencies.

The cryptocurrency market is currently valued at $350 billion after growing in size by a factor of 15 over the last year. Each Bitcoin is presently worth approximately $8,900 after hitting an all-time high near $19,800 last December.

source: Bloomberg, SirinLabs

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6 Comments

1. jojon

Posts: 433; Member since: Feb 11, 2014

...Huawei in charge of all your crypto apps?? that's akin to putting Dracula in charge of the blood bank, no thanks.

6. two_soggy_waffles

Posts: 58; Member since: Aug 10, 2017

or like a squirrel in charge of a nut storage facility amirite

2. cncrim

Posts: 1586; Member since: Aug 15, 2011

LOL, no thanks my private suppose to be private not chinese company knowing not best interest protect your privacy. Either way, I think Blockchain cryptocurrency need better tranaction time and right now bandwidth is not a big deal but eventually it will.

3. dimas

Posts: 3345; Member since: Jul 22, 2014

Blu died silently after the malware issue, huawei and zte will be next. Oneplus was lucky with their explanation but I think the government will continue watching them.

4. jojon

Posts: 433; Member since: Feb 11, 2014

...indeed so

5. PenTiltoKet

Posts: 552; Member since: May 18, 2016

I want phone that block crypto currency. I dont want my battery to run out because of mining

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