Apple’s CryptoKit Edges Closer Towards Phone Support for Digital Currencies

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Apple's CryptoKit Edges Closer Towards Phone Support for Digital Currencies

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It has been announced that Apple has plans to integrate what it calls an iPhone CryptoKit into its next-generation iPhone.

Although the title sounds like a major step away from a hitherto rather tentative stance on all things crypto, enthusiasts will need to wait for a while before becoming to over-enthusiastic. This is no crypto wallet and, unlike Samsung, Apple is not ready to pander to its many iPhone-holding crypto fans just yet.

However, falling short of supplying a fully- fledged crypto wallet with the latest iOS 13 software will have some of the advantages of a wallet for some users, according to Open Money Initiative co-founder Alejandro Machado who enthused:

“For the first time, developers can leverage the secure enclave to manage a user’s keys in an iPhone, achieving a similar level of security to hardware wallets.”

The new iOS13 plans which will replace Apple’s previous framework announced at its Worldwide Developers Conference in Cupertino, California this week.

The announcement was met with somewhat muted response elsewhere, some not sharing Open Money Initiative’s obvious enthusiasm, with one developer claiming that Apple’s current CommonCrypto already provides many of the functions that CryptoKit offers.

Clearly, Apple is holding back, given that its competitor Samsung offers the Galaxy S10 which includes a cryptocurrency wallet compatible with Ether (ETH) and Ethereum-based ERC20 tokens, although it does not currently support Bitcoin, thereby immediately frustrating many users.


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