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Does the future of Apple Pay include cryptocurrency? | TECH(feed)

Computerworld | Sep 10, 2019

As cryptocurrency becomes more mainstream and generates more buzz, it’s no surprise that the world’s most powerful tech companies are expressing interest in digital currency. Smartphones companies are set to offer cryptocurrency integration in digital wallets as early as next year, and Apple may follow suit. In this episode of TECH(feed), Juliet discusses Apple’s position as a fintech leader and how--and when--it will support cryptocurrency.

Copyright © 2019 IDG Communications, Inc.

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APPLE MAY SOON BE A PLAYER IN THE CRYPTOCURRENCY WORLD, BUT DON’T EXPECT TO BE ABLE TO USE BITCOIN WITH APPLE PAY JUST YET. STICK AROUND.

AN APPLE EXEC RECENTLY CONFIRMED THAT THE COMPANY HAS AN INTEREST IN CRYPTOCURRENCY, BUT DIDN’T REVEAL ANY PLANS ON HOW IT WILL INTEGRATE DIGITAL MONEY INTO ITS PAYMENT APP. I MEAN, I WOULD GUESS PLENTY OF TECH COMPANIES HAVE AN INTEREST IN CRYPTOCURRENCY. BUT APPLE IS IN A SPECIAL POSITION HERE BECAUSE A DIGITAL WALLET IS ALREADY INSTALLED ON EVERY IPHONE. ENABLING ITS USERS TO PAY WITH CRYPTOCURRENCY IS WELL WITHIN ITS ABILITY.

APPLE WOULD BE FAR FROM THE FIRST SMARTPHONE MANUFACTURER TO INTEGRATE CRYPTOCURRENCIES INTO ITS DIGITAL WALLET. H-T-C AND SAMSUNG HAVE ALREADY ANNOUNCED CONCRETE PLANS TO DO SO. AND ANALYSTS PREDICT APPLE WILL EXAMINE THOSE ROLLOUTS AND DECIDE HOW--AND WHEN--TO BRING CRYPTOCURRENCY TO THE IPHONE. I-O-S 13 ALREADY HAS SOME CRYPTO INTEGRATION IN THE FORM OF APPLE’ CRYPTOKIT. THE CRYPTOKIT COULD PAVE THE WAY FOR FUTURE CRYPTOCURRENCY TRANSACTIONS, BUT APPLE HASN’T BEEN OPEN ABOUT THAT.

WITH APPLE PAY AND THE NEW APPLE CARD, APPLE HAS CEMENTED ITSELF AS A PLAYER IN THE FINTECH LANDSCAPE. AND ADDING CRYPTOCURRENCY ABILITIES WOULD ONLY PUSH THE COMPANY FURTHER AS A FINTECH LEADER. BUT A LOT OF CURRENT CRYPTOCURRENCY BUZZ HAS YET TO TAKE SHAPE. FACEBOOK’S LIBRA CURRENCY IS SUPPOSED TO ROLL OUT NEXT YEAR AND IS EXPECTED TO FACE REGULATORY HURDLES ACROSS THE GLOBE. MAYBE ONCE WE SEE HOW THAT FARES, WE CAN GET A BETTER IDEA OF HOW CRYPTOCURRENCY WILL BECOME A PART OF OUR EVERYDAY LIVES AND PAYMENTS. AND HEY, MAYBE WE’LL EVEN HEAR A LITTLE BIT ABOUT CRYPTOKIT AT TODAY’S APPLE EVENT. IF WE DO, I’LL CHAT ABOUT IT IN OUR APPLE EVENT LIVESTREAM, LINKED BELOW.

THANKS FOR WATCHING THIS EPISODE OF TECH FEED. IF YOU LIKED THIS VIDEO BE SURE TO GIVE IT A THUMBS UP AND SUBSCRIBE TO OUR CHANNEL. AND LEAVE A COMMENT LETTING ME KNOW IF YOU WANT CRYPTOCURRENCY TO COME TO MAINSTREAM DIGITAL WALLETS. FOR MORE APPLE NEWS, CHECK OUT OUR SEPTEMBER EVENT LIVESTREAM AND COMMENTARY STARTING AT 1 P.M. EASTERN, 10 A.M. PACIFIC. SEE YOU NEXT TIME.
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