Huawei focuses on Latin America to launch its blockchain service

The Chinese manufacturer studies the Latin American markets for the expansion of its blockchain service before the restrictions caused by the United States

Chinese telecommunications hardware company Huawei studies the Latin American market as a scenario for the expansion of its blockchain service, according to a report recently published in Brazil.

It has been hinted that Huawei’s products and services enabled by blockchain technology will soon reach the markets of the subcontinent.

Spokespeople for the company said: “Everything will depend on the results of our market analysis and, if 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.

For now, Huawei already has several contracts signed with the Brazilian government aimed at storage solutions. They are also in negotiations for 5G infrastructure agreements. Since 2018 the Chinese manufacturer has launched its offer of blockchain as a service from the cloud with the purpose of creating and managing decentralized applications at low cost.

Huawei still has no projects in Latin America in relation to cryptocurrencies. However, they have indicated that they expect to enter the banking infrastructure and financial systems of Latin American countries in the same way that IBM has done.


Source: Cointelegraph

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