A new concept for Apple imagines a hardware wallet for cryptocurrencies
Apple could eventually launch its own crypto token.
While cryptocurrencies are all the rage at the moment, with more and more people showing interest, and large corporations and institutional investors looking to put their money into this space as well, one of the biggest developments has come in terms of the ease of access for crypto.
Earlier, cryptocurrencies were extremely difficult for regular people to buy, with specialized exchanges, while the fixed supply meant that mining them would need expensive, high-powered computers which would need to work for hundreds of hours to have a chance of gaining a token. This is even before we mention the environmental impact of crypto mining, which is still prevalent today and is a big question that will need to be resolved if cryptocurrencies become part of mainstream economies.
Nevertheless, it has become much easier now for people to buy crypto, with several popular payment platforms beginning to accept and adopt crypto. PayPal is the biggest one to have allowed crypto transactions on its platform, while the likes of Google Pay and Samsung Pay are also keen to follow suit. Apple Pay is also set to begin allowing users to conduct crypto transactions, while there are also rumors that Apple could eventually launch its own crypto token. In this vein, a new concept, by noted artist Antonio de Rosa, is quite interesting as it sets up the possibility of a hardware Apple wallet for storing crypto.
This wallet would be integrated with Apple cards, and while there is a significant sticking point in that it would be difficult to mine a significant amount of crypto on a Mac, there is still a lot of potential for this product. Cryptocurrency adoption is increasing at a faster pace than ever before, and it is important to provide holders and investors with the tools to protect their investments, while also making it convenient to transact.
Crypto has various advantages, such as faster transactions, safety, reliability and anonymity, to name just a few, not to mention the decentralized nature of tokens which means that they are independent of central banks. This appeals to many people, and it is also why several businesses, especially, in sectors that primarily operate online, are also turning to crypto. One such example is the online gambling industry, where there are various gambling sites now which offer users the option of placing bets through cryptocurrencies.
There is even a bitcoin gambling guide by Winz.io https://winz.io/blog/bitcoin-gambling/ available now for those interested in this, as it offers all the advantages of crypto with the fun of online gambling. With more businesses going down this route, it is important that crypto exchanges and wallets become more secure to increase users’ confidence, and hardware wallets are one potential solution.
This Apple wallet concept has a Touch ID sensor and a touchscreen similar to the Touch Bar, while it would be integrated with the Apple Card, so users could see their crypto balances in this wallet, and spent through the card. It would also give individuals the ability to transfer crypto to others, while there is a hardware key to monitor mining by Apple devices, although this is redundant since dedicated mining rigs are needed today to achieve any decent return.
Nevertheless, the concept of a hardware wallet is an interesting one, since there are still doubts around software wallets and the safety they provide. This could work even better with a dedicated Apple cryptocurrency token, and with the Apple brand behind it, could easily turn crypto from a niche idea only embraced by nerds and tech enthusiasts, to a mainstream option used by ordinary customers. Thus, it will be interesting to see if any of these ideas come to fruition at Apple.