Apple Bans Crypto Mining from iOS Devices
Bitcoin can’t seem to catch a break. After shedding almost $900 USD in a mere 24 hours, computer conglomerate Apple announced it was updating its policies to no longer allow cryptocurrency mining apps on iOS devices like iPads and iPhones.
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Mining Banned by Name and by Nature
Apple’s developer guidelines explicitly ban apps that mine cryptocurrencies. They also prohibit developers from creating apps that excessively drain battery power, generate heat, or place any unnecessary strain on device resources — all of which might be expected of cryptocurrency mining activities.
Per the company’s iOS developer guidelines:
“Apps, including any third-party advertisements displayed within them, may not run unrelated background processes, such as cryptocurrency mining.”
Some Crypto Activity Still Allowed
However, Apple did state that cryptocurrency activities will not be outlawed altogether. The company explained that iOS devices can still be used to house digital wallets designed for cryptocurrency storage, granted they are “offered by developers enrolled as an organization”.
Mining can also occur if it takes place in an off-device setting (i.e. cloud-based mining is allowed), and apps may also “facilitate transactions or transmissions of cryptocurrencies on approved exchanges, provided they are offered by the exchanges themselves”.
In addition, initial coin offerings (ICOs) and futures trading may only be offered by established banks, securities firms, and “other approved financial institutions, and must comply with all applicable law(s)”.
Growing Distrust Leads to Negative Action
Bitcoin’s price has failed to reach the heights it did in December last year. The tumbling value of the digital asset has coincided with cryptocurrency, and particularly ICO, ad bans on Google, Bing, Facebook, and on Twitter.
Apple is the latest in the string of major IT companies to take firm action against cryptocurrencies.
But Wozniak Is a Fan
By contrast, however, Apple co-founder Steve Wozniak has been full of praise for bitcoin, and said he hoped it would become the world’s single currency. In a recent interview with CNBC during the Money 20/20 conference in Amsterdam, Wozniak described bitcoin as “pure”, stating:
“Bitcoin is mathematically defined. There is a certain quantity of bitcoin. There’s a way it’s distributed, and there’s no human running it. There’s no company running it, and it’s just going and going, and growing and growing, and its surviving. That, to me, says something that is natural, and nature is more important than all our human conventions.”
Have your say. Is Apple acting out of the interests of its customers or is it simply another corporate giant engaged in warfare with a technology it did not invent?
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