Apple is keeping a close eye on the cryptocurrency industry
It is safe to say that Apple is yet to get on the cryptocurrency bandwagon, just like the significant other tech companies. However, the Cupertino tech giant is keeping an option open when it comes to adopting cryptocurrency.
Apple Pay’s Vice President, Jennifer Bailey said that they are currently watching the progress of cryptocurrency. Bailey recently had an interview with the Business Chief Correspondent of CNN, Christine Romans. By the looks of it, the interview took place during a private event in the heart of San Francisco. During the interview, Jennifer Bailey said that the company considers cryptocurrency as an exciting factor. On the other hand, cryptocurrency also has the potential to change the world in the long run.
The new revelation came into being due to the Business series of CNN, “The Table.” Bailey did talk about the trend as it was an integral part of the discussion regarding the future of unorthodox payment. According to sources, The Table is an essential part of the popular multi-city series, which features discussions. Moreover, The Table brings some of the transformative and notable people from across the business as well as tech industries.
Apple has the interest to get into the cryptocurrency industry
The interest of Apple originates from a similar consideration as Facebook has done the same thing. However, Facebook did already unveil the first-ever look on Libra, the social network giant’s cryptocurrency. Facebook said that it would release the cutting-edge cryptocurrency Libra in the following year.
In addition to this, Square, a notable company that processes payment, said that it is hiring cryptocurrency engineers. Wedbush Securities’ notable analyst Dan Ives said that if Apple chooses to join the cryptocurrency industry, then things would change. Dan Ives believes that Apple might influence a lot of people to invest their resources on the cryptocurrency.
As of now, Dan is completely unsure as to when Apple will put its strategy and invest in the cryptocurrency world. Nevertheless, Dan said that Apple’s move into the cryptocurrency world would monetize its consumers in the forthcoming years. The Cupertino tech giant first got into the mobile payment service back in 2014. After significant anticipation, Apple did come up the digital payment system Apple Pay.
At the time of introducing Apple Pay, the Cupertino tech giant said that the new service would transform the entirety of how mobile payment systems work.
How many people are currently using Apple Pay?
Apple is yet to reveal as to how many people are currently using the digital payment service Apple Pay. Nevertheless, Apple has said that facility generally processes around one billion transactions in a single month. Even since the launch of Apple Pay in the year 2014, the acceptance of the contactless payment has increased significantly from 3% to 70%.
Currently, Apple’s goal is to gain universal acceptance with Apple Pay. On the other hand, Bailey said that the US took a long time to adopt the contactless payments than any other countries. The progress of Apple Pay in the US is slow; howeve