Huawei has been one of the fastest growing mobile vendors in the world over the past few years and the company is now said to be working on a new smartphone that will appeal to those interested in blockchain technology. According to a new report, Huawei is developing a smartphone which will be capable of running blockchain-based apps.

Bloomberg reports that Huawei is in negotiations to license the operating system called SIRIN OS from Sirin Labs. It will present on the handset alongside the core Android OS to run blockchain applications. While representatives of both Huawei and Sirin confirmed to the scribe that the companies have met they didn’t comment any further on the report.

It’s no surprise that Huawei has turned to Sirin Labs for this project. The company was reported to be developing a blockchain-based smartphone with a price tag of $1,000 in 2017. Sirin Labs has since revealed that it has received pre-orders for more than 25,000 units.

A decentralized ledger used to record cryptocurrency transactions, commonly known as blockchain, is a crucial technology with diverse applications. If Huawei really is working on one such device, it would not only be the first major smartphone manufacturer to jump on the blockchain bandwagon but would also play a significant role in bringing this technology to the mass market.

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