The Strategist

What Apple and Twitter think about cryptocurrencies?

09/09/2019 - 06:37

Twitter’s Head Jack Dorsey said that the company would not launch its own digital currency. He is still convinced that only Bitcoin will become the native currency of the Internet, reports The Sydney Morning Herald. via flickr via flickr
“I think open Internet standards serve everyone better than those controlled or run by companies,” said Dorsey. He emphasized that neither Twitter, nor the Square payment platform headed by him will issue their digital currencies. “I think that Bitcoin is the best bet because it has been the most stable, has existed for 10 years, it has an excellent brand and it has passed many tests,” said Head of Twitter.

Jack Dorsey is known as a longtime supporter of bitcoin. He has repeatedly stated that it is the first cryptocurrency that will become the future native currency of the Internet.

In turn, Apple Pay Vice President Jennifer Bailey said in a conversation with CNN that lack of certain cryptocurrency initiatives at Apple does not mean that the company is not interested in this area. “We're watching cryptocurrencies,” she said. - We think this is interesting. We think they have interesting long-term potential.”

The main topic of the interview was the future of the payment industry and the role of the Apple Pay service, which allows paying with a smartphone, in it. According to Bailey, Apple has yet to convince consumers who believe that "paying with a card is safer than with a mobile phone." In reality, the situation is exactly the opposite, she added.

Bailey admitted that the spread of advanced payment services requires significant public education efforts. At the same time, she did not give any hints as to whether Apple could somehow use cryptocurrency-based payments in its products.

In June, it became known that Apple will add a set of CryptoKit tools for “safe and efficient implementation of cryptographic operations” in the iOS 13 operating system.