How Apple’s Approval Of Bitcoin Changes Cryptocurrency Forever

Apple announced a lot during WWDC. However, as cryptocurrency users and investors, what they didn’t announce is actually more important for us than what they did announce. Apple has made a subtle change to their developer guidelines, stating

Apps may facilitate transmission of approved virtual currencies provided that they do so in compliance with all state and federal laws for the territories in which the app functions.

So, what exactly does this mean?

It means that we should soon be seeing fully functional Bitcoin wallets available on the iOS app store. Apple, having previously issued a full on ban of Bitcoin wallets, has now retracted that ban meaning that the world’s most popular smartphone will now be able to make Bitcoin transactions

This is huge news, because it means that Bitcoin wallets on mobile devices are now fully universal. Previously, only Android powered devices as well Apple Bitcoinas Windows phones were able to support Bitcoin transactions. Now that the iPhone is added to that list, essentially every mobile smartphone can now support cryptocurrency. This is not only going to result in a huge boost in Bitcoin and cryptocurrency awareness, it also dramatically increases the likelihood that local vendors will begin accepting Bitcoin as a form of payment in their stores.\

It’s currently uncertain why exactly Apple has decided to reverse their ban on Bitcoin. Perhaps it’s due to the fact that major companies such as Dish are beginning to accept the cryptocurrency, which validates its credibility. Perhaps its due to the protests many Bitcoin enthusiasts ensued when the Blockchain app was banned from the App Store. Perhaps it was due to the lost sales from Bitcoin enthusiasts buying Android devices instead of iPhones. Perhaps Apple is simply finally beginning to realize how revolutionary Bitcoin actually is, and is unable to deny it’s usefulness any longer.

Regardless, one thing we know for certain is that Apple’s acceptance of Bitcoin is huge news, and only does good things for Bitcoin and cryptocurrency in general. It should only be a matter of time before we see Bitcoin wallets popping up on the App Store, and I can’t wait to see how it turns out.

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