Apple Pay: The Establishment's Last Stand Against Bitcoin
Having spent many years in New York working for one of the financial sector's "Big 6" banking corporations, I feel qualified to look at the financial ramifications that the emergence of Bitcoin will have on the future of money in America, if not worldwide. Having left that ethically-bankrupt den of thieves behind was difficult financially, but empowering spiritually. From orchestrating the run on the banks in 1906-1907 to destroy small business competition, to the drafting & creation of the Federal Reserve Act, which was written by bankers, for bankers, in seclusion on Georgia's Jekyll....
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Apple has begun to fight back against the FBI to protect its core values and users. AirBitz CEO agrees that Apple is taking the right approach. American multi-national technology corporation Apple has presented its bold stand for encryption by rejecting the Federal Bureau of Investigation’s request for access to the company’s iPhones. Over the past few weeks, American government agencies have pressured Apple to comply to the FBI’s legal request by developing a backdoor to the iPhone, which grants transparent access to law enforcement and government agencies. The government claimed that the....
As the technology wars heat up in the merchant payment industry, the establishment's foray known as Apple Pay has run into some major identity theft and fraud issues. NFS (Near Field Communications) may be clever. Biometric fingerprint scans into iPhones can make a user feel safe and secure, or just forward the user's information to unknown third parties. At the core of the problem is the weakest link in the Apple Pay chain. The debit card itself. Fraud and Identity Theft quickly join Apple Pay. Apple gets a nice .15% fee for every Apple Pay based on Apple's salesmanship on the idea that....
Tim Cook, the CEO of Apple, has publicly endorsed encryption, saying that it’s good for public safety. During a yearly meeting for the Utah Technology Council in Salt Lake City, Cook said that “Encryption is one of the things that makes the public safe,” and reaffirmed his company’s unequivocal commitment to privacy and device integrity: “We feel we have a responsibility to protect our customers. We believe the only way to protect both your privacy and safety from a cyberattack is to encrypt. We throw all of ourselves into this and are very much standing on principle in this.” Apple has....
In a series of announcements at its developers conference, Apple has revealed a number of expansions for the Apple Pay Digital Payment service. The biggest news is that Apple will expand the service and launch a UK market in the following month, making it the first expansion outside of the US. Apple Pay will partner with eight of the largest banks in the UK to support more than 70% of all credit and debit cards within the country. Apple Pay will also be usable in more than 250,000 locations in the UK which include more retail stores than were available at launch in the US. Additionally,....
Apple Pay isn't even here yet and, arguably, it's already winning the war against bitcoin. Like the digital currency, Apple is disrupting the payments system, but people will probably use it more than they use bitcoin. Cupertino has carefully focused on three areas to make sure that happens: front-end experience, financial institutions, and merchants. So what is the cryptocurrency community going to do about it? Apple Pay's holy trinity. Apple nailed the customer experience side. For starters, it rolled out the system with the new iPhone, and with the announcement of the Apple Watch, both....