What is the main purpose of every business? Money. And what if large companies like Apple produced actual money instead of products for sale? Maybe, it sounds crazy but we have an interesting idea to discuss: what if Apple issues its own digital currency?
If you don’t know too much about bitcoins, it is something like computer currency. Advanced hardware and software solve complicated mathematical issues and produce money that has real (and significant) value. Also, this type of money is not controlled by the government or any banking system, therefore it is absolutely decentralized. This currency is global and open-sourced, so everybody can create his/her own type of currency. Banks and governments are actually not in raptures because this currency cannot be controlled or bring any profit to them. We assume that anything banks and government don’t like is probably a nice idea.
At the same time, bitcoins are complicated. Governmental institutions simply issue currency and people use it. While bitcoins are produced by computers that spend a deal of processing energy to generate new bitcoins. Non-techies may find this theme really hard to understand.
No matter what, bitcoins and other similar coins continue to grow more popular and expensive day by day. Of course, they won’t replace traditional financial system even though digital money offers a lot of great stuff. It reminds us of Linux. Do you remember 1998 when users rushed to install Linux on their computers? While this is a convenient and nice system with a lot of cool functions to offer, the buzz around it was too short and it has never gained too much popularity. Linux is an open-source system based on UNIX.
What about UNIX? This is an operating system used by large mainframes. Also, there is an other open-source system based on UNIX – FreeBSD. They are pretty similar, both free and use UNIX.
These systems are based on a great idea – when you offer something understandable and stable and make its code an open source, then new and stable operating systems will appear. The problem is that you need technical knowledge to use such stuff and ordinary people have really hard times trying to grasp it (like bitcoins).
But in 2001 Apple released a simple, beautiful and super-modern operating system with convenient interface and support for most software (sorry, gamers and pirates). And this one is also built on the basis of FreeBSD. Even Android, Google’s answer to iPhone, is a version of Linux. Therefore, we bet that you had no idea about what UNIX is, even though you’re using some of it in your hands now.
There is a popular thought that Apple doesn’t invent anything but rather re-invent something that has been already done. This might be true, but Apple never claims to be the first at something. They didn’t make the first mobile phone, tablet, smartwatch or laptop. However, we cannot deny that this company sets a trend and has a serious influence on any of these categories. So there is no need for Apple to invent digital currency. They might make it simple, beautiful, usable, desirable, and accessible for everyone.
This sounds great in theory. What about practice?
iPhone is not just a popular product, it is one of the most desirable devices in history. This success has a side effect – everything else produced by Apple seems less important. For example, not only iPhone is the most popular cellphone in the world, but also Apple Watch is the best-selling watch ever. However, the fact that Apple is extremely dominant in one category makes their other success unnoticed.
This makes some experts predict that Apple’s success won’t last too long. But how can we ignore the fact that this is the first trillion-dollar company in the world? Also, they say that Apple stopped making innovations. However, we believe that they mean that Apple didn’t issue anything as important and popular as iPhone. This is true. Nor iPad neither Apple Watch matches the iPhone’s popularity. But nothing else really does, so there is no problem. Maybe this will sound naïve in a couple of years, but we cannot imagine some device being as successful and dominant as iPhone. Except for one thing – money itself. iPhone is Apple’s money-printing machine. The only thing they can invent to get even more money is to print money.
Actually, this is already happening. Apple Pay is accepted in a number of shops today. Also, in the US you can pay with the help of iMessage. Facebook, Venmo, and Square allow you to send money. NFC payments are also available for a couple of years. And this is what Apple usually does – taking something complex and making it simple. And stylish. Just like human coalition made controversial problems of humanity single-valued and simple in distant 1973.
Let’s speculate about user benefits of so-called Apple Coin. First, security. Apple Coin would use security systems like Face or Touch ID, so they are even safer than traditional banks. Second, no fees of any kind. Also, if Apple Coin will be available for mining, your MacBook or iPhone could be earning money!
As for the social aspects of digital currency, they are also interesting and offer lots of perspectives. Developing governments could have built their financial systems more stable. And now, imagine that you could use your credit or debit card in any other country and have your money converted to the local currency automatically using your Apple Coin account? No fees, no necessity to spend your precious time at a bank’s visitor center. You’d at least give it try, won’t you?
What we are trying to say is that for most people this may solve more problems than create. Apple is a company that likes to take control over all parts of their supply chain. For instance, they have already bought a processor company to make sure that all chips for their devices are perfect.
Considering the fact that digital currency is an important thing in today’s world, it’s not so impossible that Apple will try to take control over the money. They will take complicated thing – digital currency – and make it simple. They have already made it with computers, cellphones, tablets, and other things. Moreover, digital currency is not only popular but also extremely profitable. Someone who will make it mainstream will surely gain a significant income. And there is no better candidate than Apple.