New Huawei Mate 40 Phone Includes Hardware Wallet For Digital Yuan
updated on:3 Nov 2020
The Huawei Mate 40 smartphone comes with an in-built wallet for China’s digital currency.
Huawei's Mate 40 smartphone comes with an in-built hardware wallet for China's Digital currency.
The release follows China's recent public experiment with digital currency in Shenzhen.
Huawei’s new smartphone, the Huawei Mate 40, supports an in-built hardware wallet for China’s central bank digital currency, the digital yuan or DCEP (Digital Currency, Electronic Payment). The smartphone is reported as the first of its kind that enables a hardware wallet for the Chinese digital currency.
The smartphone delivers hardware security and anonymity, and is reportedly also capable of initiating transactions while offline.
The announcement that the new smartphone will come with a digital yuan hardware wallet comes after China’s public trial of the central bank digital currency.There's lot to come like Bitcoin currenct, ethereum and other crypto.
Earlier this month, nearly two million Shenzhen residents signed up to take part in a digital yuan experiment. Those who signed up enjoyed a distribution of 50,000 digital gift envelopes that contained 200 yuan each.
This was reported as the first time China had experimented on digital currency with the general public, yet China has been laying the groundwork for a central bank digital currency since as early as 2014
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