Huawei Could Open Blockchain Operations In The Latin American Market
Huawei Could Launch Blockchain Services In The Latin American Market
- Huawei is studying the South American market to release blockchain-related products
- Although there is nothing confirmed, the company is in talks with the Brazilian government
The Chinese giant Huawei is currently analyzing the possibility of expanding in the Latin American market through blockchain services. The information was released by Cointelegraph Brazil on June 13. The report says that a Huawei executive informed that blockchain-related products will be available on the continent.
Huawei Wants To Expand In Latin America
Although there is nothing confirmed, they showed that they are working so as to deploy blockchain-related services in the future. The firm is now focused on other areas such as 5G, storage and telecommunications.
About it, a Huawei executive said at the CIAB Febraban conference on June 11:
“Everything will depend on the outcome of our market analysis and in case there is a market demand for blockchain we will make our services available in this area. Today we are focused on storage, 5G and telecommunications.”
The firm explained that they have been working with the Brazilian government for storage solutions and to deploy the necessary 5G infrastructure in the country. Back in April 2018, the company launched its blockchain-as-a-service offering through its cloud platform. As per some reports, this service allows interested parties to create and manage blockchain apps at low cost.
The executive has also talked about the US-China trade war and how it could affect the company. He said that he is confident that it will be solved and it will not affect users around the world. Additionally, he commented that one of the issues that must be solved is related to Google’s Android software licensing.
It is worth mentioning that CIP, a facilitator of financial infrastructure or banking issues in Brazil, launched a blockchain ID platform working with IBM and using the Hyperledger Fabric. The blockchain market is expanding around the world and South America is clearly a hub for innovation.