China’s Huawei continues to invest in blockchain technology as it seeks to join the global leaders in the rapidly growing enterprise blockchain industry. In its latest move, the tech giant filed patent applications for the use of blockchain in its storage devices.
Huawei followed in the footsteps of its rival Samsung in investing in blockchain technology. The Shenzhen-based company joined China’s new national blockchain committee in April, joining Tencent, Ant Financial and others.
Local media outlets reported that Huawei has filed for multiple patents related to blockchain technology storage methods and devices. According to China’s English language newspaper Global Times, Huawei has held blockchain patents in data archiving and related fields.
#Huawei Technologies revealed it has applied for new patents related to #blockchain technology storage methods and devices, Chinese corporate database Tianyancha showed. Huawei has held multiple patents in this area like data archiving and settlement methods based on blockchain. pic.twitter.com/dvDE9Q3363
— Global Times (@globaltimesnews) July 27, 2020
Huawei has come under an intense crackdown globally, stemming from its troubles with the U.S. government under President Donald Trump’s administration. The U.K. has compounded its woes by taking a similarly hostile stance towards the company. However, this has done little to impede its growth, with the company surpassing Samsung to become the world’s largest smartphone maker this year.
On its path to global domination, Huawei has invested in emerging technologies, one of which has been blockchain. The company launched a directory for the Chinese government that relies on blockchain technology. The directory links several government departments which can all seamlessly and securely share data among themselves, saving time and costs.
Huawei revealed at the time that the directory handles 44,000 files and incorporates 16 Chinese districts.
The company has also developed a smartphone-compatible digital currency wallet and a Blockchain-as-a-Service platform.
Huawei has also partnered with the People’s Bank of China in its central bank digital currency project. The company was among the eight companies that were revealed to be part of the internal testing process, joining four state banks and three telecom companies. The CBDC has been in the pipeline for years now although the official launch date is still unknown.