As one of the largest and most influential companies in the world, Apple usually keeps up to date with the latest technology trends, but when it comes to cryptovalute, the Bitten Apple is taking its time: during an interview as part of the New York Times DealBook Online Summit, Tim Cook expressed his views on digital currency.
Apple and cryptocurrency: Tim Cook speaks
Speaking as CEO, Tim Cook said Apple is considering integrating cryptocurrencies into Apple Pay, but it has no immediate plans for introducing such a payment method. In short, the company is looking with interest at the world of digital currency, but the day when we will see its true integration in the App Store is far away.
Adding cryptocurrency as a form of payment within Apple Pay would be a hugely impactful move for Apple. While there is already support for Apple Pay cryptocurrencies, this works via third-party credit cards such as Coinbase, which converts all cryptocurrencies to US dollars first. It is also possible to download third party apps to purchase Bitcoin, Ethereum or other popular currencies.
However, these are more alternative solutions that integrations and, more importantly, are not the same ones that allow users to purchase products with Bitcoin in Apple Pay. Bitcoin or Ethereum support would allow users to select their crypto account as an option as well as their own Apple Card or another credit card, taking cryptocurrency support to the next stage.
Cook certainly left the door open, although he didn’t go into specific details, voluntarily avoiding questions about it. The company probably already has very specific plans in this regard, which it may soon share with the public.