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Huawei and China's central bank partner up for FinTech research

Huawei and China's central bank partner up for FinTech research

According to Huawei's official WeChat account, the telecommunications giant and the People’s Bank of China (PBoC) have singed together for the purpose of conducting FinTech research.  Further details were not diclosed.

Huawei, however, is not a stranger to the blockchain world. It has helped international businesses manage blockchain applications more efficiently and more affectively. This, on the other hand, is the first time that Huawei signs with a governmental body. Huawei CEO Ren Zhengfei stated that he supports China on issuing a digital currency against Facebook's Libra. He added: “Even China is able to issue such currencies, why wait for Libra? The strength of a state is greater than that of an Internet company.”

China has been supportive of everything related to blockchain and cryptocurrency. From its interest in releasing a local, governement-approved digital currency (Read More) and pursuing more research in regards to the utility of blockchain technology in cross-border financing (Read More) to having major companies such as Bitmain and Canaan aiming to list on the US securities market (Read More).

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