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Apple Inc. (AAPL) changed its policy to let software developers include virtual-currency transactions in their applications, paving the way for new forms of money like bitcoin to appear on iPhones and iPads.
While Apple didn’t mention bitcoin specifically, its developer terms now allow for certain “approved virtual currencies,” without saying what those were. Apps that use the digital money must comply with state and federal laws wherever they’re designed to work, the terms say.
The change signals that Apple is warming up to virtual currencies after previously blocking programs like Blockchain.info from its App Store. Bitcoin is the most popular digital currencies, which governments are struggling to determine how to regulate because they exist only as software.
“This is a sign that the ecosystem is maturing and gaining credibility,” Bill Lee, an investor in bitcoin wallet BitGo, said in an e-mail. “To be clear, I still think bitcoin is in its infancy as a technology, but its acceptance is becoming more and more mainstream.”
Bitcoin entrepreneurs were already predicting an explosion of activity.
“Get ready for a plethora of bitcoin iOS apps!” bitcoin venture capitalist Adam Draper said in an e-mail. “Very exciting news!”
Developer Rob Banagale said he’s planning to submit a new version of his app, called Gliph, which was kicked out of Apple’s store last year because it let users send bitcoins to each other in instant messages. Banagale had to strip out that function for iOS devices; the app is only fully functional on phones and tablets that use Google Inc.’s Android operating system.
Source from: Bloomberg
While Apple didn’t mention bitcoin specifically, its developer terms now allow for certain “approved virtual currencies,” without saying what those were. Apps that use the digital money must comply with state and federal laws wherever they’re designed to work, the terms say.
The change signals that Apple is warming up to virtual currencies after previously blocking programs like Blockchain.info from its App Store. Bitcoin is the most popular digital currencies, which governments are struggling to determine how to regulate because they exist only as software.
“This is a sign that the ecosystem is maturing and gaining credibility,” Bill Lee, an investor in bitcoin wallet BitGo, said in an e-mail. “To be clear, I still think bitcoin is in its infancy as a technology, but its acceptance is becoming more and more mainstream.”
Bitcoin entrepreneurs were already predicting an explosion of activity.
“Get ready for a plethora of bitcoin iOS apps!” bitcoin venture capitalist Adam Draper said in an e-mail. “Very exciting news!”
Developer Rob Banagale said he’s planning to submit a new version of his app, called Gliph, which was kicked out of Apple’s store last year because it let users send bitcoins to each other in instant messages. Banagale had to strip out that function for iOS devices; the app is only fully functional on phones and tablets that use Google Inc.’s Android operating system.
Source from: Bloomberg
