Samsung, Microsoft, Facebook and now tech giant Apple showing major signs of support and mass adoption of the crypto technology. Apple recent product updates were shared with the public at its annual WWDC event on June 7th , where crypto-focused dev kit, dubbed CryptoKit, was shared to the public for the first time.
Apple Debuts CryptoKit SDK for iOS 13 on iPhone
In a recent announce,ent a new software development kit called CryptoKit. The new SDK provides developers with the infrastructure to “perform cryptographic operations securely and efficiently.”
The SDK framework supports the emerging financial technology and its corresponding crypto assets, as it also cryptographically captures other elements of code being run on Apple products outside of currencies like Bitcoin. Hardware wallet-level security for digital assets can now be accessed through the IPhone’s secure enclave.
Another tech giant Samsung, has also recently launched its flagship Galaxy S10 handset complete with a Blockchain Keystore app that allows users to cryptographically protect Ethereum-based tokens.
The Impact of Apple Entering the Crypto Space
Over a past few years Apple have put more than 1 billion smartphones in the hands of consumers across the globe. With such market share that Apple enjoys, the impending reach of an iPhone-based crypto wallet cannot be understated.
Apple and tech giant Microsoft ramped up their crypto support, having recently implemented their Azure blockchain on the Nasdaq Financial Framework and updated their Microsoft Excel spreadsheet software to include Bitcoin as a currency. Facebook was also recently working on their GlobalCoin project that could potentially change the face of money as we know it.
Amazon is yet another major tech brand contemplating entering the crypto space, but even they don’t command the same level of loyalty and desire to own their products as Apple commands from its consumers who already use their technology, trusting them with money won’t be as big of a jump. With over 1 billion Apple devices active, and if even a portion of those devices exposed its users to crypto, mass adoption is imminent.