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Is Bitcoin Ruining Apple's Payment Plans?

Tags: apple bitcoin

I've thought for quite some time that Apple has been quietly planning to takeover and dominate mobile payments. They already have many of the pieces in place. There are hundreds of millions of apple users that have a credit card linked to their Apple ID. Moreover, they are slowly rolling out ibeacons technology which allows easy wireless location based communications. The pieces are falling into place. 


Unfortunately for Apple, Bitcoin may ruin these plans if Apple isn't willing to accept and find a way to work with bitcoin technology. Apple is currently bound to credit card companies for payment processing, along with their traditionally high fees. However, bitcoin promises to erode those fees with its low cost transaction model. 

I've noticed that Apple has already rejected apps such as coinbase from its AppStore for unknown reasons. I assume that they either view bitcoin as a threat, or they are trying to protect their users from an unknown commodity. Currently, android appears to be the only way to store a bitcoin wallet on a mobile phone. 

Neither bitcoin or Apple are currently major players in mobile payment processing. Both systems have major potential for disruption. However, I feel apple will ultimately lose this battle unless they are willing to somehow embrace bitcoin into their plans. 


This post first appeared on Techstructions, please read the originial post: here

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Is Bitcoin Ruining Apple's Payment Plans?

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