Jennifer Bailey From Apple Pay Says Crypto Has ‘Long-Term Potential’

Apple is "watching the cryptocurrency," according to a tech giant executive.

Apple Pay Vice President Jennifer Bailey, speaking with CNN at a private event in San Francisco, said: "We think it's interesting. We think it has interesting potential in the long term."

Bailey did not clarify the possible uses of technology that Apple could follow. She had been talking about the future of payments at the CNN event.

With Facebook planning to launch its stable Libra currency next year, it would be really surprising if Apple wasn't seeing cryptography. But, Bailey's comments may be a confirmation that more could be going behind the scenes at Apple's Cupertino headquarters.

In February, Apple submitted a presentation to the Securities and Exchange Commission (SEC) that contained rare details about the interest of the IT giant in blockchain technology.

The document indicated that Apple was involved in the drafting of the "Blockchain Guidelines" for the Responsible Minerals Initiative of the Responsible Business Alliance and that it had been working with the RBA blockchain team.

Elsewhere in the CNN report, Bailey said that by launching Apple Pay, the company has made it difficult for users to tip. The firm is analyzing the problem, he said.

The executive also explained why the company had recently suggested that users of the new Apple Card should keep it away from other credit cards, as well as leather and denim. "We want it to always look perfect," he said.

Apple image via Shutterstock

This article is republished from dailycoin.info.