Blockchains have already penetrated a great number of industries to enrich processes with added security, convenience and to automate processes and reduce human error. The technology sector and fintech industry have benefited exceptionally with blockchains being the perfect fit – so is it surprising that computer giants have yet to utilise blockchains? Apple is only just murmuring an interest in merging blockchains with their current projects, but it is better late than never.
Although their announcement hasn’t indicated at a cryptocurrency to challenge Bitcoin or a crypto wallet to rival the Luno Bitcoin Wallet, they are making strides at coming up with ways that their Mac computers can incorporate the benefits of blockchain.
First, A Word on Blockchains
Blockchain technology is usually seen as one peddle on the cryptocurrency bicycle, the other being crypto coins itself with the two being interlocked and working together. That is true to an extent. Yet, while crypto depends on blockchains to work securely and in the nature they are intended (decentralised), blockchains can function without crypto. This is why they have been adopted in an array of industries outside of finance, and it is the reason why companies like Apple can add them to their products and use their qualities for different purposes.
What Has Apple Said?
Not a lot. Apple has been fairly tight-lipped on what they intend to use blockchain technology for. In fact, there is no official statement suggesting they will be considering blockchains for their products or services. However, it is likely that one of the biggest names in technology is making plans and considering their options.
One speculation is that blockchains will be used in the process of Apple sourcing materials for their projects. This means working towards ethical standards by recording the journey of processes on the blockchain as a public ledger fully transparent. Confirmation of this has not yet arrived.
Ways Apple Could Use Blockchains
One of the biggest opportunities for Apple lies within their MacBooks and namely the T2 chip. This chip has been labelled as a death switch by opposers, but others realise this is just a chip to safeguard your data. Ultimately, they are a way of protecting the data on the machine even if it was stolen and opened up by someone with a screwdriver.
These chips highlight the ways that Apple is exploring the ability to protect Mac owners’ data, and could venture into blockchain technology to do this even better. Data, privacy and security are hot topics and help consumers make decisions. If Apple does tap into blockchains to improve these areas of their products, they could win over more of the market and set a trend among the computer giants.
Time Will Tell
Even though there is little noise coming from Apple themselves, the likelihood that they are not investigating the uses of one of the 21st century’s biggest tech advancements is slim to none. We may just have to wait to see what they are cooking up.