China’s Central Bank Digital Currency Research Unit Signs Deal with Huawei

Huawei has recently signed a strategic deal with China’s central bank, the People’s Bank of China (PBoC).

On Nov. 4, a statement from Huawei’s WeChat channel, the deputy governor Fan Yifei made attendance in the signing of a fintech research cooperation agreement between Huawei and PBoC’s Digital Currency Research Institute at Huawei’s headquarters in Shenzhen.

The announcement does not include details on the agreement whether it includes joint research on blockchain or digital currencies.

Huawei Quite Active in Blockchain Space

Huawei has been quite active in developing blockchain capabilities over the few years. Last year in April, Huawei launched its Hyperledger-based blockchain-as-a-service platform— one month after the release of Huawei and Hyperledger’s joint project Caliper.

In June, Huawei was in the consideration of launching a blockchain service in Latin America. Its blockchain-enabled products and services may be available in the near future according to an anonymous Huawei executive.

China Pushes For Blockchain Innovation

Xi Jinping, China’s President recently called for the country to accelerate its adoption of blockchain technologies as a core for innovation. Xi stressed that the implementation of integrated blockchain technologies is key in promoting technological innovation and transforming industries.

China’s central bank, the People’s Bank of China (PBoC) announced recently that it will use a new system to certify 11 types of fintech hardware and software products relating to digital payments.

China has over 700 blockchain enterprises with over 500 related investments according to an announcement by China Electronic Information Industry Development (CCID).

Source: https://mp.weixin.qq.com/s/J6Chc4bwYebvjZCnJbKN_g Image: Bloomberg

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