Apple’s New Crypto Kit Could Be a Stepping Stone for Hardware Wallets

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In September 2018, Apple launched the CryptoTokenKit to allow users to store and retain crypto tokens on their MacBooks. Now, Apple has launched a software development kit (SDK) to enable developers on iOS and MacOS to perform cryptographic operations securely.

Some speculate that is a part of Apple’s move to eventually launch a hardware wallet, June 4, 2019.

Bringing Crypto to the Masses

Apple has never been a company that lags in a technological fad, but this time, they’ve been slow relative to competitors like Samsung and Microsoft.

Finally, Apple has launched an SDK that allows developers to use public key cryptography and secure digests. There is a separate “secure enclave” where users’ private keys are stored on the device. The cryptography is meant to allow for the encryption of messages and authentication, meaning the prime focus (on paper) is to give users a secure means of communications.

Apple’s new kit allows hashing in SHA-256, SHA-512, and SHA-384, to give users a variety of options to encrypt data. SHA-512 was used by BitShares while SHA-384 is not used by any cryptocurrency network. SHA-256 is the hashing algorithm for Bitcoin and Bitcoin Cash.

While this move isn’t focused on giving the average Joe an experience with cryptography, it seems like one of the steps that could lead to crypto integration on Apple devices. While a separate hardware wallet seems less likely, Apple could still introduce a mechanism to integrate a cold-storage token management service for its products.

The Samsung Wallet, powered by Enjin, is likely a form of hot wallet, but commentators believe Apple will try and stay ahead of the mainstream curve by trying to fast track themselves with the best asset management practices. At this point, everything is speculation, but Apple is indeed looking at expanding into cryptocurrency services, something visible from their CryptoTokenKit.

Pro Crypto or Pro Blockchain?

Microsoft is currently working with Ethereum to offer a new version of Azure that allows blockchain developers to speed up the time needed to run and write code. Despite this, Microsoft has nothing to do with ether (ETH), with founder Bill Gates stating Bitcoin runs on the “greater fool theory.”

J.P. Morgan and Ernst & Young (EY) are both utilizing Ethereum-powered ledgers via their respective projects, Quorum and Nightfall. Both of them are powered by zero-knowledge proofs to leverage private transactions that can only be viewed by the parties included in the operations.

IBM is another powerhouse that is harnessing the power of both digital currencies and distributed ledger technology. Watson, for instance, is one of the most powerful distributed IoT devices in the world and has helped produce many real-life use cases for IoT and distributed technology in general.

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