Possibility of Apple Having Their Own Cryptocurrency in the Future

Meta description: Apple may release a cryptocurrency in the future, but that time may be in the distant future as they concentrate on eating up more of the market with Apple Pay.

Cryptocurrencies are tied to technology. It was blockchain technology that enabled bitcoin to function and they have since become part of fintech companies around the world. Every big company working with technology is seeking out ways they can adopt crypto and make it part of their products and services.

Microsoft already accept bitcoin to pay for some of their services and the long-awaited confirmation that Apple wants to get involved has arrived. An Apple executive has confirmed that the company are looking into long-term potential of crypto and possibly developing their own digital asset in the near future.

Early Successes in Apple’s CyptoKit

Apple has already dived into the cryptosphere by creating CryptoKit for iOS 13 devices. This is a space for developers so they can craft hashes used for private keys and digital signatures. Those keys represent cryptocurrencies and can be sent via an iPhone to another as a method of payment within an app.

Apple has yet to reveal whether CryptoKit is going to develop and also include a cryptocurrency wallet. Although that may materialise in time – and if they do produce their own digital coin – there are still solid wallet options found elsewhere. The Luno Bitcoin wallet is an excellent example for those that want to trade and invest in the world’s most popular crypto.

Apple Planning Future Crypto Move

Jennifer Bailey is Vice president of Apple Pay and has informed media outlets that the company is looking into crypto, stating that it is worthwhile and part of their long-term ambitions. It is likely that any move into crypto would see Apple follow the likes of Samsung and HTC. Both of which are working on native cold wallets built into their handsets.

Other experts such as Jack Gold of J. Gold Associates doesn’t think Apple will make their move into crypto very soon. Instead, he believes they will continue finessing the Apple Pay product so it gains its market share before diving into what can be seen as a risky addition in crypto.

Are Apple Trendsetters?

The idea that Apple will continue to hold off really making their mark in the crypto world may appear strange to some people considering they are arguably the biggest tech giant on earth. Yet, if you look back at Apple’s past, you can see that they are not always trendsetters. More often than not, the company chooses to enter already established markets with new innovations, rather than be a company joining Samsung and HTC with pioneering smartphones.

No matter when Apple enters the frame, their competitors’ efforts along with news of Facebook’s own crypto all make for a disruptive revolution within finance and technology. If you ever wanted evidence that the fourth industrial revolution has arrived, look no further than these moves.