According to recent reports, China’s telecommunications leader Huawei is looking to invest in the Latin American market in terms of blockchain technology.
Apparently, the Chinese giant wants to introduce blockchain based products on the continent.
According to a Huawei representative, this could happen rather sooner than later, as explained during the June 11 CIAB Febraban conference:
Everything will depend on the outcome of our market analysis and in case there is a market demand for blockchain we will make our services available in this area. Today we are focused on storage, 5G, and telecommunications.
It is understood that currently, the company has numerous contracts in the South American peninsula and is working hand in hand with the Brazilian government for possible storage solutions, as well as 5G infrastructure agreements.
For quite some time the company has been operating within the blockchain sector. Back in April of last year, Huawei launched its own blockchain-as-a-service under its cloud platform. Furthermore, Huawei’s decentralized platform “helps global companies and developers create, deploy and manage blockchain applications quickly and at minimum cost “
More on the 5G, a company executive explained that as of now, Huawei is the global leader. As of today, the Chinese-based company is working with multiple governments in regards to 5G implementation compared to other world leading companies.
It is fair to say that Huawei blockchain is going in the right direction. The first application released by the network is “Device ID”, known to allow “the sharing of a set of information for the users of banks and financial institutions, in order to create a new layer of security for anti-fraud and identification systems.”