It has been ten years since the launch of the first-ever cryptocurrency (Bitcoin) in the market. There have been ups and downs, but the rapid growth and usage led to the increase of craze in cryptocurrencies. According to the latest news, Apple has plans in cryptocurrencies, said by Jennifer Bailey, who is Apple pay’s vice president in a recent CNN interview.
She does not mention that Apple is already in crypto projects but said that the company is interested in cryptocurrencies and their potential for long term usage. Since a few years, big companies like Facebook have announced their projects based on crypto. We can say that Apple has joined the list along with top smartphone brands like Samsung and HTC.
Samsung has planned for the release of cryptocurrency wallets in their flagship phone Galaxy S10. According to reports, it supports ether and four D-apps as of now. Soon, they plan to expand the application to other phones and make the application support even more cryptocurrencies.
HTC’s smartphone EXODUS 1 is a blockchain phone which supports direct transactions of cryptocurrencies with its in-built wallet. This feature removes the usage of loading crypto to third party sites for doing transactions. The company believes that this is the future of cryptocurrencies as transactions happen from smartphones and are secure. As of now, EXODUS 1 supports transactions of ERC-20 tokens between sender and receiver.
Apple has been working on digital payments for a few years. They introduced Apple pay in the year 2014. Apple Pay is a digital wallet with which users can do transactions, buy apps, send and receive money to and from friends, and so on. Recently, they came up with an Apple card, which resembles the features of a credit card. Both Apple pay and Apple card are supported in IOS devices only.
So, can we expect the Apple coin or a cryptocurrency from Apple with a unique name? We might expect, but it is not going to happen anytime soon. Apple officially started focusing on crypto, but it may take time. Further, plans are unknown, and let’s wait and see what Apple comes up with cryptocurrencies and blockchain.
One of the reasons why tech giant Apple started its focus on cryptocurrencies is because of its potential. From trading crypto coins to using the currency for daily usage (for payments, transactions, etc.) cryptocurrencies have come a long way. There is more to go, as many countries have lifted the ban on crypto. Crypto wallets are getting more secure with which users can safely do transactions without any problems.
Apple devices are known for privacy and data security. Many users of Apple may be interested in doing transactions with crypto, but the devices just won’t support. Apple got convinced with these points, and as cryptocurrencies will be part of life in upcoming years, it is good that they started working towards developing apps regarding cryptocurrencies.