Saturday, September 7, 2019

Apple may have a long term plan for Cryptocurrency

Apple may have a long term plan for Cryptocurrency

Apple's is watching cryptocurrency. Could this be a hint that  Apple may allow the use of bitcoin or create their own cryptocurrency for future payments? The launch of its own credit card which is backed by Mastercard and Goldman Sachs is only a few months old. The company may have revealed and shown its interest in the crypto market. Other tech giants have approach cryptocurrency and definitely want to utilize their potential. Facebook plans to launch Libra next year, Apple could also capitalize on the crypto market as well. As to whether they will support existing cryptocurrencies or create their own is still unclear.

We're watching cryptocurrency," Jennifer Bailey, vice president of Apple Pay, recently told CNN's Chief Business Correspondent Christine Romans at a private event in San Francisco. "We think it's interesting. We think it has interesting long-term potential - CNN Business

Should Apple introduce a crypto wallet, they will join smartphone manufacturers like HTC and Samsung to possess crypto holdings. They are hoping to get a better grip on the financial market and would "maybe" turn their attention to cryptocurrency. A company worth five times more than Bitcoin? - they would thrive if they dabble in the crypto space. Apple's isn't supportive of cryptocurrency now but miners are allowed in its app store and have never started any project in this space.

Some comments from the company's Apple Pay head shouldn't excite any expectations that users can purchase cryptocurrencies with their Apple card, either way, I am down for it.  Let's see what happens!