Technology companies show a growing interest in cryptocurrencies. Some do so more than others, like Facebook. Apple, on the other hand, is not going all-in just yet. Despite the potential and promise of cryptocurrencies, the focus lies elsewhere entirely for the time being.
Apple Sees Merit in Crypto
It is somewhat surprising to learn Apple has any positive sentiment toward cryptocurrencies. App developers have complained for years how difficult it is to get their projects approved in the Apple Store. As such, accessing cryptocurrencies was virtually impossible on an iOS device for many years. Luckily, that situation has come to change in more recent times.
Keeping that in mind, it seems Apple never refuted the concept of cryptocurrency. In fact, the company sees merit in Bitcoin for the long-term. The company is actively monitoring the markets and associated developments. However, there will not be any product or service launches associated with cryptocurrencies for some time to come. From a long-term perspective, the industry can’t be ignored, however.
Apple Coin Rumors Persist
No one will be surprised how this new “statement” sparks more rumors regarding Apple Coin. It has been rumored for years how Apple would develop its own cryptocurrency. To this date, no such project exists, neither officially nor unofficially. That is not a bad thing, as the world doesn’t really need more walled-off cryptocurrency ecosystems. After all, that is what Apple Coin would be. A digital currency for a small ecosystem which doesn’t suit the majority of this world’s population.
Apple also doesn’t allow cryptocurrency mining applications in the App Store. In regards to other potential applications, the door seems to be wide open. There is some focus on QR code payment solutions and cryptocurrency applications which do not tax internal device hardware. A company spokesperson confirmed the financial industry is slowly changing and cryptocurrencies will play their role in this regard.
Competing With Apple Card?
Not that long ago, the technology giant introduced its own payment card to the world. Known as the Apple Card, it is a project which has received mixed reviews and comments. While it is a viable tool to keep Apple users engaged within the ecosystem, it isn’t as useful for everyone else. Additionally, availability is still somewhat limited, although that situation should continue to improve as more time progresses.
One interesting aspect is how Card holders cannot purchase cryptocurrency. This is primarily due to the issuing bank taking an openly negative stance on Bitcoin and other currencies. It is not Apple’s doing, as the company seemingly sees long-term potential for all cryptocurrencies on the market today. How that will pan out regarding the company’s own payment card, remains to be determined.
The post Apple has Long-term Expectations for Cryptocurrencies appeared first on NullTX.
Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.
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