Altcoin News: Apple exec: Cryptocurrencies Have Interesting Long-Term Potential

September 5, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The lack of certain cryptocurrency initiatives at Apple does not mean that the company is not interested in this space, said Apple Pay Vice President Jennifer Bailey in a conversation with CNN.

“We’re watching cryptocurrency,” she said. — “We think it’s interesting. We think it has interesting long-term potential.”

The main topic of the interview was the future of the payment industry and the role of the Apple Pay service, which allows paying with a smartphone, in it.

According to Bailey, Apple has yet to convince consumers who believe that “paying with your physical card is more secure than actually paying with your mobile phone.” The truth, she adds, “is completely the opposite.”

Bailey acknowledged that the spread of advanced payment services requires significant public education efforts. At the same time, she did not give any hints as to whether Apple could somehow use cryptocurrency-based payments in its products.

In June, it became known that Apple will add the CryptoKit toolkit for “safe and efficient cryptographic operations” to the iOS 13 operating system.

At the same time, the terms for using the Apple Card issued by the company changed together with Goldman Sachs’s ban on the purchase of cryptocurrencies with it.

Earlier this year, information also appeared that Apple is interested in the possibilities of using blockchain in supply chains.

Author: Marko Vidrih