Apple Job Posting Indicates Potential Expansion into Cryptocurrency

The tech giant has sent out a new job posting that many believe points to Apple expanding into crypto.

By
John Tunney
on
May 28, 2021
Category:
Blockchain News

Looking to Hire 

 On May 25th, Apple published a job posting, but this job posting was special. What Apple is looking for is a, “Business Development Manager – Alternative Payments.” But it’s not really the title of the job description that has intrigued the crypto community. 

It is what’s being asked in the job description that has stirred quite a few people in the crypto industry that are paying close attention. The job offering made by Apple looks to be directed at bringing aboard a crypto currency / alternative payment expert. The job posting reads:

“5+ years experience working in or with alternative payment providers, such as digital wallets, BNPL, Fast Payments, cryptocurrency and etc..Deep knowledge of the alternative payments ecosystem, understanding the complexities of funds flow, roles/responsibilities for settlement, relevant regulations and industry standards and the wide spectrum of FinTech products.” 

Digital wallets, crypto currencies, and a deep knowledge of the alternative payment ecosystem. It becomes clear now why many speculate Apple may be the next giant tech company to begin the process of moving into crypto, rather than ignore it. 

Source


Some Skepticism 

Yet some skeptics aren’t convinced this job posting is a huge win for crypto. But how could this be?!. Well, Apple is currently in a legal battle with Epic Games, the founders of Fortnite. Epic Games has accused Apple of violating antitrust laws and stifling payment innovations. Epic Games, in their legal battle against Apple,  writes in their complaint:

“These innovations could include, for example, alternative means to pay for in-app purchases of in-app content—which Apple does not offer—such as billing to the customer’s cellular carrier, using Bitcoin or other cryptocurrencies, offering rewards points to customers, or providing more than one in-app payment processor. Apple’s anti-competitive conduct eliminates all of these innovations and alternative payment options.” 

Epic Games accuses Apple of purposely limiting alternative payment methods, such as Bitcoin or other crypto currencies. There still remains a bit of uncertainty in the crypto world whether Apple is hiring an alternative payment personnel/team to help in their legal battle against Epic Games, or if they are preparing for payment innovation.

One Thing Becomes Clear

Although some are unsure what this all means for Apple, the truth is that crypto currency is becoming harder and harder for big tech companies to simply ignore. Apple, by hiring an alternative payment / crypto expert, regardless of their grand plan, have begun onboarding individuals who are familiar with the digital finance space. As crypto continues to grow, it will only become more of a challenge for companies to ignore the beneficiary properties that come with crypto. This could be a pivotal moment, where tech and digital finance collide. 


Apple

Apple is a multinational corporation that designs, manufactures, and markets consumer electronics, personal computers, and software. They are one of the biggest tech companies in the world with a 2 trillion dollar market cap according to CNBC.

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John Tunney

John Tunney is an accomplished analyst and crypto enthusiast. The UCLA alum has been actively reporting and blogging for 3 years, and has a passion for all things finance.

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