Apple has released a new version of its operating system with iOS 16.3 that includes the option to use a physical security key to protect your data. This option is basically intended for blocking Apple ID and backing up data to iCloud, but for Bitcoin the step has become significantly smaller.
Because is?
Last year, Apple announced the ability to use a hardware key to enable two-factor authentication (2FA). Many exchange platforms within the crypto industry also use this to provide additional security for user accounts. Adding a physical device to your security makes it impossible for potential hackers to gain full digital access to your account.
Basically, this isn’t an update that has anything to do with encryption in a direct sense, other than opening some potential doors. Apple is known as a company that never sits still and is always looking for ways to do something with new technology. There are no concrete plans for Bitcoin at the moment, but updates like this bring that moment closer.
apple and cryptocurrency
Apple’s most notable moment when it comes to cryptocurrencies is probably a statement made by Apple Pay Vice President Jennifer Bailey in 2019. She admitted at the time that the company was “watching cryptocurrencies” and that she believed in their “long-term potential”. . In February 2020, Apple hired Jeff Bronikowski from Warner Music, who has worked on several blockchain applications in the crypto industry in the past.
Also in November 2021, Apple CEO Tim Cook told The New York Times’ Ross Sorkin that his company “intends” to accept cryptocurrencies as a form of payment. The question itself was about adding cryptocurrency to Apple Pay. That’s not saying much, but it also shows that Apple doesn’t condone this possibility.
Then, in February 2022, Apple announced a new feature for Apple Pay. With this new function it is possible to send payment orders with the iPhone in an instant. This still has nothing to do with cryptography, but it is definitely an application that can work for Bitcoin as well.
MetaMask and Apple
Then, in March 2022, MetaMask, one of the most popular crypto wallets in the world, announced support for Apple Pay. Thanks to this support, people can buy cryptocurrencies directly from their Apple Pay app. In this sense, we are approaching a direct connection between Apple and the cryptocurrency industry. By the way, MetaMask is a wallet that at one point had over 30 million monthly active users.
These are figures that are also interesting for Apple. In theory, Apple could also become a party that sells cryptocurrencies through its own wallet. They are a trusted name in the tech world and they have the user base to do this potentially very profitably. But Apple is also a company that goes one step at a time and doesn’t jump to one place.
Surprisingly, not long after linking MetaMask to Apple Pay, Apple sought an attorney with knowledge and experience in blockchain and digital assets. We can’t say anything specific yet, but there’s no denying that Apple is definitely working on encryption in the background.
Editor wanted
Did you enjoy reading these articles and want to contribute to our content? We are looking for a new editor-in-chief with a deft pen and solid knowledge of the cryptocurrency market. View our vacancies here and respond immediately!
Source: Btc Direct
Source link
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
