![]() ![]() competitiveness and leadership” in digital assets technologies. President Joe Biden recently signed an Executive Order on crypto that includes an objective of driving “U.S. The White House is also looking at how to foster crypto innovation. CEO Tim Cook told the DealBook Conference in November that he owns crypto as “part of a diversified portfolio.” While he said Apple had “no immediate plans” to integrate crypto payments, “there are things definitely looking at.” This position, however, seems more related to Apple’s App Store tax than a crypto issue. Coinbase, ), but the company has deemed NFT-viewing apps not appropriate for the App Store. 4 blog post that the crypto exchange has to “play by rules” to list in the App Store and service iPhone users.īut what does Apple actually think about crypto?Īt present, iPhone users can download crypto wallet apps (eg. In some ways, crypto is already at Apple’s whim. The hardware wallet is a longer-term solution, but - with Apple’s ability to create consumer-friendly tools - one that could be revolutionary. “A good browser extension is a near-term solution for on-boarding crypto users,” says Burton, who has turned his bullishness into action by building Balance, an open-source crypto wallet extension for (you guessed it) Safari. If Apple added an encryption signature known as Elliptic Curve Digital Signature Algorithm (ECDSA), the iPhone could become a secure crypto hardware wallet to hold private keys and for digital authentication. Crucially, iOS is unable to directly access the data. It’s a subsystem on the iPhone A1 chip that stores information (passcodes, biometric data) for sensitive applications like FaceID and Apple Pay. Hardware wallet: The iPhone has a hardware feature called a secure enclave. And with 54% of mobile traffic in America coming from Safari, there’s an opportunity for more crypto iPhone tools. Apple’s iOS 15 update in November provides more browser extension support. Safari browser extension: One of crypto’s biggest on-boarding tools so far is Metamask, a Chrome extension crypto wallet with 21 million users. Burton believes that the iPhone - which more than 1 billion people carry in their pockets for everyday use - can alleviate this problem in two ways:
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