As a seasoned researcher with a keen eye for technological advancements and a soft spot for global economic trends, I find myself intrigued by the latest move by Huawei to integrate the digital yuan into its HarmonyOS NEXT operating system. With over two decades of experience under my belt, I’ve seen countless tech giants rise and fall, but Huawei’s resilience in the face of adversity is nothing short of inspiring.
As a crypto investor, I’m excited about the news that Huawei is incorporating the digital yuan into its HarmonyOS NEXT operating system. This move could potentially make the digital currency more accessible and user-friendly for over a billion smartphone users like myself. It’s an interesting development in the world of digital currencies, and I’m looking forward to seeing how this integration unfolds.
Improving payment options
On October 22nd, the HarmonyOS NEXT (or HarmonyOS version 5.0) – a new operating system by Huawei – made its debut. This is the third OS developed by them, being the first one they created independently.
Among the top three operating systems globally, HarmonyOS NEXT ranks third, following Android and iOS. Unlike its predecessors, HarmonyOS NEXT is designed to exclusively support applications that are native to it.
In response to Google’s ban and the U.S. government’s sanctions imposed on Huawei in 2019, the company created HarmonyOS as an alternative solution. Initially deployed on smart TVs and smartwatches, it expanded to mobile devices like phones in 2021. At this point, there were discussions about incorporating the digital yuan into the system.
Since it has occurred, users won’t have to install a separate app for using Central Bank Digital Currency (CBDC). Instead, wallet management services and interactions with other financial apps will continue to advance. Additionally, further integration of the digital yuan is expected into chips, modules, devices, and systems within the Internet of Things (IoT), as suggested by another source.
Through integration, the People’s Bank of China will significantly boost its security and surveillance abilities.
The digital yuan gets around
On multiple aspects, the digital yuan is gradually advancing at a consistent pace. Recently, an event involving the digital yuan took place in Beijing, timed with the 2024 China Science Fiction Conference. (Paraphrased)
As a researcher, I’ve observed that the digital yuan has been integrated into some significant events in Beijing, such as the Craft Beer Festival and the 2024 World Table Tennis Championships. Interestingly, over 22.6 million Beijing residents have digital yuan wallets, reflecting a growing adoption of this digital currency within the city.
On October 29th, the International Air Transport Association (IATA) revealed their decision to start accepting digital currencies. The digital yuan was the initial choice for this new acceptance policy. Muhammad Albakri, a senior vice president at IATA, stated that “China is one of the leading nations globally in embracing digital currency.
The digital yuan will become the 74th currency that IATA processes once they start accepting it by year-end.
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2024-11-02 00:11