Its been a rather action packed week for Apple and its latest announcement has gotten many people excited and many others moaning! We like to stand right in the middle. The announcement we are talking about, of course, is that Apple will allow software developers to include virtual currencies to their releases heralding in an era of new transactions to appear on iPad and iPhones, the most common ,we predict, being the Bitcoin!
Apple have announced that they will have approved virtual currencies but no statement has been made as to which currencies have actually approved. They were also quick to point out that these “virtual currencies” could be used as long as they met the compliance of the localised laws where the apps could be downloaded. Bringing new digital payments has been a bit of a mess for everyone involved currently, specifically in relation to the legal handling of these currencies (just look at growingly popular Bitcoin) and though Apple shied away from these in the past, by blocking several apps with these currencies, I think its embrace could turn the market more in favour of sorting through these issues and getting a stable digital ecosystem in place.
The other big announcement coming from Apple Worldwide Developers Conference (WWDC) is of course the new app in development ‘Healthkit’, which will pull in various health related apps into one bundle and its separate iOS8 integrated app ‘Health’. This is being promoted in tandem with Nike and should be a sure-fire win for Apple despite its competition Samsung being first to the game.
For those interested you can see the full Apple Keynote speech below but be sure to clear 2 hours of your day!
Do you think Bitcoin will come out on top? Is this a foolish or incredibly wise move from Apple? What are your thoughts on Virtual Currencies in general?