Category Archives: Huawei

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Cisco Takes Aim at $10 Billion Enterprise Blockchain Market

Cisco Takes Aim at  Billion Enterprise Blockchain Market

US-based telecommunications equipment manufacturer Cisco Systems has set its eye on enterprise blockchain solutions on the premise that the market an approach an approximate USD 10 billion by 2021.

In recent times, more brick and mortar companies have lauded the ability of blockchain technology and continue to show support for its development. In the report Blockchain by Cisco, the technology is described as having the ability to enable multiple parties to reach an agreement on the authenticity of a transaction in a decentralized manner.

Trust being a central theme in the function of the blockchain as it maintains a traceable, irrefutable and secure system of record keeping; Cisco suggests the greatest innovation brought by the blockchain is its automated trust system. The report reads:

“Participants can directly use the blockchain as the source of truth instead of one another… The Economist refers to this capability as the “trust machine” that will fundamentally transform the way we do business.”

The report further indicated that as emerging technologies such as internet of things (IoT) take root in the global economy, they pose a potential security threat to about 20 billion IoT devices by 2020. This will only make blockchain solutions more significant. More so, the complexity of financial systems in global trades and the lack of transparency in supply chain markets makes blockchain utility a necessity.

As blockchain continues to grow it could play a larger role in the world’s economy soon, the report states that “10% of global GDP that is likely to be stored on blockchains by 2027” is one of the possible scenarios as the industry matures.

Another interesting insight provided by the report inferred that programmable economy is expected to deliver efficiencies and new business value in excess of USD 3 trillion by 2030… driven primarily by improved cash flow, asset provenance, and native asset creation, as well as new trust-based business models, qualities right in the ballpark of blockchain technology.

Other reports such as the increase in blockchain hiring and spending further buttress the perspective provided by Cisco, as the technology continues to evolve while business processes are simply playing catch-up.

Cisco as with other top tech conglomerates is staking a part of its corporate resource into the future of both decentralized and permissioned blockchain economy. Its debut into blockchain began with its patent filing to copyright the use of blockchain in tracking IoT devices followed by its other patent for an innovative group chat on the blockchain. Further, it has 14 innovation centers across the globe, with the most recent launched in Southeast Asia.

The tech firm aims to accelerate the adoption of enterprise-grade blockchain solutions by “bringing together a world-class ecosystem of partners and alliances to deliver a true Internet-scale trust network”, according to their enterprise blockchain platform. It is currently building an enterprise-grade blockchain solution designed as a composable platform architecture.

IBM and Microsoft are other tech giants pushing the frontier of enterprise-grade solutions. Huawei technologies had also recently inferred that it was staging Hong Kong as a blockchain hub for future economic impact. It appears that this emerging niche of enterprise-grade blockchains could become a unique bi-product of a once thought to be a speculation-ridden ecosystem.

 

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Africa, China Mobile Tech Market and Cryptocurrency Revolution

Africa, China Mobile Technology and Cryptocurrency Revolution

Africa may have contributed a great deal to Bitcoin transactions, according to peer-to-peer crypto exchange Paxful. This has been partly due to the increased inflation rate in some countries and the fact that cryptocurrencies appeal to a large number of underbanked and unbanked individuals on the continent.

The quest to venture into cryptocurrency related business relation as the opportunity in this niche currently presents, may not appeal as much to the Chinese tech investors at the moment says Stephany Zoo, head of marketing at BitPesa. She also was of the opinion that cryptocurrency activity for cross-border payments on the continent is not as pronounced as advertised, stating that if it were so, China having a large number of cryptocurrency owners would have influenced its use in Africa since it’s a major trade partner.

Over the years, the African continent has been favorable to the Chinese tech market. As reported by media outlet the Financial Times, Huawei and ZTE played an important role in building the continent’s mobile network.

The tech potential on the continent is yet to be fully optimized though, as new companies onboarding the ecosystem have also taken advantages of the latent opportunities. Last year, Quartz Africa reported on how a low profile Chinese handset maker Transsion rose to limelight due to Africa’s mobile market. However, there is fierce competition between Western and the Chinese tech companies for a larger share of the African market.

According to Zoo, Chinese tech investors are still wary about crypto investments because of the associated risks, saying that they prefer to stick to solar, ed-tech, e-commerce and IoT. The emerging market opportunity for cryptocurrency in the continent is currently not fully explored, although Zoo added that as time goes on, there’s a possibility that more Chinese investors will trust the market as they work with Africans.

Leading global smartphone vendor Samsung will reportedly include a native cryptocurrency wallet feature in its upcoming Galaxy S10, which will go a long way to facilitate adoption on the side of smartphone users. However, it would be remarkable for the brand in relation to the African market since it holds a huge stake there.

Although Samsung came in second place to Transsion in terms of smartphone shipments to Africa during Q2 2018, it remains unknown how the alleged cryptocurrency wallet feature will improve its market share, especially in South Africa which accounts for the largest share of shipments (17.4%) in the continent. Moreover, South Africa may be considering a regulatory framework for the industry, however, in December 2018, it did say it was considering crypto as part of its National Payment System (NPS).

A recent ongoing survey by the Financial Times is attempting to gauge the level of awareness and possible adoption potential of cryptocurrency and Africa happens to be one of the focal points. BitcoinNews will keep tabs on the outcome of the survey to understand what Africans with internet enable devices want from digital currencies.

 

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Poste Italiane Joins FedEx in Adopting Hyperledger Blockchain

Poste Italiane Joins FedEx in Adopting Hyperledger Blockchain

The Italian Postal Service has now joined multinational courier delivery services FedEx in adopting the Hyperledger blockchain.

Poste Italiane is now to use Hyperledger as part of its Deliver 2022 Business Plan in order to streamline its current mail services. Hyperledger is a collaborative project led by the Linux Foundation to create open-source standards for blockchain and Distributed Ledger Technology (DLT). It includes American Express, Cisco, Intel , JPMorgan, Deloitte, and Huawei.

FedEx came on board with Hyperledger in September 2018 with the company impressed that the tech had “big, big implications” for supply chains, transportation, and logistics, all areas crucial to the US postal giant’s worldwide operations.

A statement from Poste Italiane said that blockchain tech is “an effective response to the problems of security, transparency, interoperability, and privacy”. It follows a recent positive amendment to current Italian Senate definitions. Definitions have now been offered for DLT technologies and smart contracts, also that blockchain-based digital data will now represent a legal validation of content.

Once the amendment becomes Italian law, the technical aspects will be overseen by the Agency for Digital Italy and the Presidency of the Council of Ministers.

After signing a declaration with six other EU states this month to integrate blockchain into European economies, the Italian Government has also taken a bold step further by manning its new blockchain advisory board with 30 experts.

The board has been in the pipeline since September 2018 when the Ministry of Economic Development called for more government focus to “know, deepen and address the issue of distributed ledger technologies (DLT) and blockchain”, as well as increase public and private investments in this direction.

 

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Bitcoin Wallet Released on Huawei App Store

Huawei has developed a partnership with BTC.com to offer new smartphone owners access to a mobile cryptocurrency wallet, giving Huawei customers the ability to use Bitcoin for commercial transactions.

Huawei has continued to maintain its place as a leading global smartphone manufacturer with a massive stake in the Chinese market. This is a large and influential market, with mobile devices used extensively to access the internet in China, with substantial online commercial activity.

However, it is currently very problematic for many Chinese residents to access cryptocurrency wallets with no access to apps in the Google Play store. There was also a complete ban on ICOs and cryptocurrency exchanges by the Chinese authorities. The addition of a Bitcoin wallet to Huawei phones is potentially the first chance many Chinese people will have to interact with cryptocurrency.

 

The Huawei app store, known as AppGallery, will provide access to BTC.com’s Bitcoin wallet for new smartphone customers. This will enable them to use the wallet to send, receive, and store the cryptocurrency.

BTC.com is a leading digital wallet for cryptocurrency users. It is part of the now well-known Bitmain Group headquartered in Beijing in China. The Group offers a suite of successful crypto-technologies with extensive involvement in cryptocurrency mining.

Dr Jaime Gonzalo, vice president of Huawei Mobile Services, commented, “We expect to see massive growth in global cryptocurrency adoption habits in the near future. That is the reason why Huawei selected BTC.com as our recommended quality app to manage digital currencies.”

BTC.com is offering an additional incentive to the new owners who may feel some reticence about taking advantage. Ganzalo confirmed, “In addition to being simple and secure to use, BTC.com offers an exclusive reward to all AppGallery users by gifting a starting amount of cryptocurrency.”

The BTC.com wallet is recognized as a secure Bitcoin and Bitcoin Cash wallet. It is suitable for new and advanced users. It ensures users can securely store their private keys and provides them with complete control of their cryptocurrencies.

Alejandro de la Torre, vice president of Business Operations for BTC.com stated, “BTC.com is democratizing Bitcoin by breaking down barriers to entry and ensuring new users can access Bitcoin and Bitcoin Cash in a simple, secure and trusted environment.”

Consumers who buy a higher end model of the new Huawei or Honor smartphones will find the Huawei app store already installed on their device with access to the BTC.com wallet. Phone owners with earlier models will get access to AppGallery in the future.

China has become one of the largest users of cashless mobile transactions. As commercial and user acceptance of cryptocurrencies continues to grow across the globe, there is an opportunity for them to become the currency for many transactions. BTC.com and Huawei have provided a new opportunity to expand this activity, and it will be interesting to see the outcomes.

 

Image Source: Flickr – Kārlis Dambrāns

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