Bitcoin, for those unfamiliar, is a form of virtual currency which some out there hope will become a legal and widely accepted currency in the future. It may or may not be the currency of the future but as it stands, there is a lot of interest in it at the moment where prices of individual bitcoins have been valued over $1,000. That being said, it would seem that Apple is not a fan of the virtual currency, or at least that’s what they seem to be letting people believe. The Cupertino company has recently removed a bitcoin wallet called Blockchain from its App Store.
The good news is that those who have already downloaded the app can continue using it, although it will not be able to receive any updates in the future. This is not the first time Apple has done something similar as in the past, they have removed bitcoin wallets like BitPak and Coinbase as well. Some believe that it could be due to uncertainty of bitcoin’s legality and regulation that led to Apple removing said apps, but Blockcoin’s CEO, Nicholas Cary, believes it could be due to an entirely different reason: competition.
We have heard the rumors that Apple might have plans for a mobile payment system of their own, and that these bitcoin-related apps are considered to be competition, so by removing them, Apple users will have no choice but to turn to the company’s own mobile payment system. That’s one theory, but what do you guys think?