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Apple’s turning point opens its doors to Bitcoin

The last modification of the guidelines in the App Store can be a turning point as Apple would open to the world of Bitcoin.

After blocking all apps that accept payments in Bitcoin for months, Apple has made ​​a decisive change of course to the virtual coins and now seems ready to launch with enthusiasm in this new venture.

It is now possible

It is now possible

After the presentation of iOS 8 during the Apple Worldwide Developers Conference on June 2, in a note to update the guidelines dedicated to the management of the App Store, the Cupertino company has dedicated a special mention to the virtual coins. Applications can make use of virtual currencies permitted provided that they do so in compliance with all applicable state and federal laws of the countries where they can download the app.

These few lines of Apple are the first official recognition of virtual currencies by the company. Apple has always denied access to the app store that involve the use of Bitcoin, although it has not applied the same hard line against the software with this feature, even going to encounter a complaint from some Bitcoin users that have sued Apple, in court at the Department of Justice on charges of violation of antitrust (accusation then rejected).

App Store is open to digital currency, maybe even Bitcoins

App Store is open to digital currency, maybe even Bitcoins

The Bitcoin, as well as other virtual currencies are traded through a network of independent control of peer-to-peer nature and exist only in the digital world and therefore governments around the world have been (and are largely still are) reticent to recognize them as a legitimate form of money. Most of the trading is done online and the good thing is that, apart from the online activity, there is also the chance to convert your digital Bitcoins into real-life money through exchanges outside of the traditional exchange of currencies, which makes it very difficult to adjust.

Ultimately, the supporters of this cryptocurrency can score a good point to their advantage even if the impact that the new rule could have on Apple’s app market is yet to be assessed: Bitcoin is not specifically stated so that it is not so obvious that an app that provides this type of payment is immediately under the scrutiny of the Store, and it is difficult to take time to evaluate the app in Bitcoin. What is certain however is that this change will allow developers and startuppers to experiment with more optimism and wait for the federal regulation in the U.S., meanwhile creating the first-wallet applications for the Apple Store.

By +Nikos Kontorigas

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