Apple Unveils New Blockchain Endeavor – Tech Is Titan Crypto Curious?

A paper filed by Apple's Securities and Exchange Commission offers a fresh look at the technology giant's blockchain technology efforts.

Apple uses several precious metals to produce its range of computers and mobile devices. The technology giant therefore relies on third parties to extract various elements. To achieve its goal of becoming a virtuous company that defends human rights and safe working conditions, Apple could exploit new ways to increase traceability, including the use of blockchain .

According to the record, Apple is working with the Responsible Business Alliance to create a set of new blockchain guidelines for the mineral supply chain sector.

"In 2018, Apple also supported the development of some industry-wide standards, including the Forum's Responsible Gold Solutions Artisbad Gold Toolkit; the Risk Reduction Code for Small-Scale Artisbad and Small-Scale Mining (ASM) Involved in Formal Trade (CRAFT Code) developed by the Alliance for Responsible Mining and RESOLVE, Inc., a non-profit organization; and the Responsible Minerals Initiative (RMI) Blockchain Guidelines of the Responsible Business Alliance …

In 2018, Apple chaired the Board of Directors of the Responsible Business Alliance, sat on the RMI Steering Committee, continued its participation in the European Partnership for Responsible Minerals, and was part of the Governance Committee of the Public-Private Alliance. private sector for responsible mineral trade. Apple has also contributed to several working groups on the RMI, including working groups on tin, gold and other minerals; the foundry's engagement team; the blockchain team; and the model report team on minerals.

You can check the new deposit with the SEC here.

As for Apple's interest in creating its own cryptocurrency, we are still looking for clues. The company filed a provisional patent in December 2017 that describes the mechanics of Bitcoin and describes a blockchain-based system designed to create and verify timestamps that can be used to combat hackers and certify digital signatures.

The patent details a method for creating secure timestamps on a multi-string register.

According to Apple,

"The new time is part of a blockchain when a minor resolves the hash riddle related to the new block containing the transaction indicating the new time. Due to a distributed consensus, an attempt to alter the blockchain by a malicious node in terms of time value will be detected by honest nodes. "

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