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Is Apple joining the Blockchain bandwagon?

by Poker King|September 6/2019|views: 164

Seems like the long-belittled potential of cryptocurrency has been recognized by global corporations. Many of you have heard of Apple’s payment service VP Jennifer Bailey. She has been vocal about the potential of digital currencies.

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Although not confirmed, Bailey has made a comment at a private event in San-Francisco, saying: 

“We’re watching cryptocurrency. […] We think it’s interesting. We think it has an interesting long-term potential.”

Howbeit other corporations have already started utilizing the Blockchain technology, and some even took this venture to an extend of developing a digital coin of their own, others are still dwelling on whether crypto is not a bubble that will at some point, inevitably burst.

As the iconic researcher and an ex-quantitative trader said wrote in his bestseller The Black Swan: The Impact of the Highly Improbable: “Missing a train is only painful if you run after it! Likewise, not matching the idea of success others expect from you is only painful if that’s what you are seeking.” If Apple hasn’t already jumped on the crypto bandwagon, maybe it’s already a little too late to explore the opportunity. Thus ground-breaking events and likewise innovations become such because of what we don’t know, nor we are able to measure its true potential, what Apple stags and researches might not become the next Black Swan, as described as Taleb’s work. 

Dan Ives, a Wedbush Securities analyst has commented:

“This would be a major shot in the arm for crypto if Apple headed down this [the same as Facebook] path. […] Given where Apple strategically is focused, a move into crypto could make sense given its sights on further monetizing its consumers over the coming years.” 

Nevertheless, Apple has had, and will have an interest of utilizing new technologies because of its own products. In the realm of crypto – their own payment method, Apple Pay. The company hasn’t officially disclosed how many users they have, but has provided information there are over 1 billion transactions on a monthly basis.  

Big corporations experimenting with Blockchain

Notwithstanding, corporations have gotten themselves involved with Blockchain and are already seeing results, some of them even – growth, because of devoting a part of their strategy to the ingenious tech.

FORD MOTOR COMPANY: The automotive giant ranked #67 on the Global 2000, co-launching a blockchain research group, subsequently receiving a patent for controlling traffic flow.

GOLDMAN SACHS GROUP INC: the bank has its very own plans to open a private bitcoin desk. 

AMAZON.COM INC: The retail giant ranked #53 when offering cloud integrations for several blockchains. Amazon partnered with ConsenSys – an ethereum-based startup.

MORGAN STANLEY: Ranking #50 on the Global 2000, the company cleared bitcoin future contracts for its customers. Morgan Stanley also issued a report on the negative impacts bitcoin mining is causing the environment. 

NESTLE: The Swiss goliath ranked number 48, becoming a part of a consortium now working with IBM to get rid of unnecessary middlemen when shipping goods.