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Apple Pay Vice President: We are Watching Cryptocurrencies

Jennifer-Bailey-We-are-Watching-Cryptocurrencies Jennifer Bailey | Apple Pay Vice President

While many giants from the technology sector, such as Samsung and IBM, are working intensively with blockchain technology, Apple is in no hurry to show interest in this direction.

However, this does not mean that the company is not interested in the new industry. Apple Pay vice president Jennifer Bailey told CNN that the company is eyeing the industry.

"We're watching cryptocurrency. We think it's interesting. We think it has interesting long-term potential," 

she said.

The topic of the interview was built around the future of the payment industry and the role of the Apple Pay service in it. According to Bailey, the lion's share of users is convinced that paying with a credit card is safer than using a mobile phone. "In reality, the opposite is true and we have to work hard to convince consumers," she said.


Bailey admits that along with the proliferation of advanced payment services, emphasis must be placed on the technological education of society. However, she did not say anything about whether Apple would use cryptocurrency payments in its products.


In early June, Apple announced the CryptoKit toolkit for "secure and efficient cryptographic operations."


In the meantime, according to the Apple Card credit card terms that were recently issued in conjunction with Goldman Sachs Investment Bank, they cannot be used to purchase cryptocurrencies.


Even earlier, at the beginning of the year, Apple became interested in using blockchain in supply chains, as evidenced by documents submitted to the US Securities and Exchange Commission (SEC).

SOURCE

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