Apple's iPhone Is Taking Its First Steps Into Bitcoin And Crypto

Apple, maker of the wildly successful iPhone, appears to be taking its first tentative steps into the world of bitcoin and cryptocurrency—revealing its upcoming iOS 13 software release will feature what Apple calls a “cryptographic” developer tool.

Apple’s first carefully measured steps into bitcoin and crypto, avoiding the trigger words “cryptocurrency” and “blockchain”, come as social media giant Facebook, Galaxy maker Samsung, and other global tech companies have begun experimenting with their own versions of and support for bitcoin and crypto.

The price, which has been swinging wildly over recent weeks as investors nervously await an expected pullback following bitcoin’s surge higher earlier in the year, has doubled so far this year following a disastrous 2018.

Many in the industry hope that the latest wave of interest in bitcoin and cryptocurrencies from Silicon Valley will spur the bitcoin price back to its all-time highs of almost $20,000, set in late 2017.

Recent recovery has fuelled a renewed mainstream interest in cryptocurrencies after many feared the bitcoin and crypto party had come to an abrupt end last year and speculation that some of the world’s biggest technology companies from Apple to Twitter are eyeing bitcoin have stoked the flames.

Apple announced the iPhone CryptoKit yesterday at its Worldwide Developers Conference, running all week in Cupertino, allowing developers implement hashing, key generation and exchange, and encryption on iOS apps and replacing Apple’s previous framework, CommonCrypto.

This article originally appeared on forbes.com To read the full article, click here.

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