ChicagoInno “Is Apple unlocking the backdoor for bitcoin?
At last week's Apple announcement, CEO Tim Cook introduced Apple Pay, the company's new digital payment service. Though other tech companies (cough, Google, cough) have tried to replace the wallet, they've failed to gain any significant traction in the marketplace.
Apple's entrance into the payments space - which Cook playfully dismissed as "huge business" (there are $12 billion in transactions a day in the US) - is different in a couple ways. 1., it's Apple. The company has tremendous brand equity and an army of eager early adopters. 2., Apple has high frequency merchant partners, like McDonald's, Walgreens, Groupon, and more, that will help re-train people's purchasing habits.”
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