China-based technology giant Huawei has prepared a special wallet for the country’s self-developed crypto money project. Called digital yuan, this digital currency can be stored directly on Huawei phones.
Huawei introduced its new phone model named Huawei Mate 40 in its press release today. According to The Block, it was announced during the event that this phone will also support the digital yuan, which is China’s crypto money project. The information shared indicates that inside the Mate 40 model there will be a wallet specially developed for the digital yuan.
Both secure and anonymous
According to the statements made by Huawei CEO Yu Chengdong, Mate 40 users will be able to protect their money and remain anonymous with this wallet. Yu thinks the company’s move will make it easier to use the digital yuan.
This hardware wallet, specially developed for China’s crypto money, will allow people to transact offline.
Became the first smartphone to support
Introduced by Huawei, the Mate 40 model phone was the first smartphone to directly support China’s digital yuan project. However, it is not yet known exactly what advantages this device will provide to digital yuan users.
It is believed that Mate 40 users will be able to store their digital yuan in the wallet inside the phone. However, it is not yet known whether users will be able to transfer the money they hold in this wallet to their bank accounts.
Began to be used actively
A few weeks ago, the Bank of China distributed digital yuan to 50,000 citizens in the country and evaluated the feedback from people. The government has begun testing it at gas stations to see how useful this crypto project is.
Information reported by the Economic Information Daily showed that payments can be made in 11 gas stations in Shenzhen with Chinese cryptocurrency. This test run by Guangdong Petroleum is expected to expand to more stations over time.