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The Apple credit card will be launched this summer. Here's why it has nothing to do with Bitcoin and is more disappointing than a utility token with no use case.
Apple announces a credit card
Apple has long been considered the most innovative company in the world. It's undeniable that the smartphone has changed the way billions of people around the world live their lives forever. But it's time for the pioneering technology company to wake up and smell the roses.
While Apple was publishing a carbon product after the other at ever higher prices, the competition was busy doing the opposite. Today, the manufacturer of high-end, high-priced technologies is striving to maintain a rapidly evolving market. And with the launch of his very disappointing Apple Card, the stench of his despair is sad.
Apple Card vs. Samsung's Bitcoin Integrated Portfolio
Apple's main competitor, apart from the large number of cheaper Chinese products, is undoubtedly Samsung. The South Korean giant did not have the easy task either, with equally expensive products that were degrading left and right.
But as a big business embraces the future, its Galaxy S10 flagship coming with an integrated Bitcoin walletApple's response is disappointing, to say the least.
Rather than recognize the cryptocurrency revolution and appeal to a younger market, the smartphone maker aims to "disrupt" the credit card industry. Is not it the wrong pool to swim?
The revolution will not come in the form of borderless transactions because it is only available in the United States. It will not be either peer-to-peer, eliminate centralized institutions or significantly reduce fees. Although his interest rates will be:
Among the lowest in the industry
Mind. Breath.
Apple's gambling plan is more focused on additional payment security, the absence of annual or foreign transaction fees, and the fact (expect) that its partner Goldman Sachs will never sell your data to customers. marketing purposes.
You can even buy yourself a coffee in the blockchain of Goldman Sachs. Just trust Apple and Goldman Sachs to do it.
It's a Custodial material purse
The Apple Card will be integrated with the iPhone's Wallet app, making it a real hardware wallet for one dollar. Apple says that they will never follow your transactions and that all information will be kept on your device.
Users may request a laser engraved titanium map if they wish, although there seems to be little interest in this regard. In fact, why even offer a traditional card for a wallet that the company wants you to get rid of first?
If you have not done so much innovation so far, there is more. Users can track their expenses on their phone through a user-friendly application.
You must trust Goldman Sachs
Following major gaffes by technology companies like Facebook and Google, Apple is expanding its next-generation security and privacy features.
The centralized entity will not track your transactions and Goldman Sachs (the other centralized entity) has agreed not to sell users' data. Explosive objects compared to a decentralized alternative financial system that requires no intermediary.
Increased adoption of Apple Pay? Perhaps. A revolution in finance? It's as good as Cook did not speak at a Bitcoin conference, the public would be out en masse.
Steve Jobs would have had Bitcoin in iOS now
Apple Card seems to be a desperate attempt to apply Apply Pay to people rather than letting them choose how to manage their finances. CEO Tim Cook enthusiasm that the map was:
The most significant change in the credit card experience in 50 years.
Exactly where was he lately? Steve Jobs has already integrated Bitcoin into iOS.
The objective of the game is likely to strengthen the adoption of Apple Pay in partnership with market leaders, MasterCard and Goldman Sachs. Two gigantic financial institutions that will hardly feel pinched by Apple Pay and his meager card.
For card users, there is no real tangible benefit beyond some exceptionally banal offers. For example, paying for Apple products with your integrated Apple card allows you to recover 1-3% of purchases.
So what does Apple think of entering an already saturated market that many people are trying to overthrow? Formerly at the forefront of innovation, Apple today seems to be extremely myopic for the future.
What are you doing with this new credit card? Will this weaken crypto-currencies focused on payments with low fees? Share your thoughts below!
Pictures via Shutterstock
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