Information and communications technology company Huawei is actively working on blockchain implementation. Most recently, the company has applied for a new patent that focuses on devices and storage methods.
The company recently partnered with the Nanshan District Government in Shenzhen to build the Kunpeng Industrial and Environmental Chain. The Kunpeng ecosystem will enable the use of open source hardware and software, which is responsible for ensuring the high security of the digital economy.
The People's Bank of China (PBoC) Digital Currency Research Institute has also enlisted the support of the telecom giant. Yifei FAN, Deputy Governor of PBoC, signed a research cooperation agreement between Huawei and the Research Institute of the People's Bank of China. The partnership became a reality shortly after the PBoC tested its digital currency in Shenzhen as part of a partnership with Huawei.
Image courtesy of Regnum