Apple Bank (Coin) on Blockchain sounds realistic.

in cryptocurrency •  7 years ago  (edited)

A few years ago, someone suggested concept of "Apple bank". For their proven user experience.

Today I think the idea could be implemented in form of "Apple Coin". With the cash Apple has, it can solve the biggest issue of Bitcoin and alt-coins -- lack of guarantee for provision of value.

Think about it. That is the biggest problem and major reason to get attacked by many parties. No one guarantees something. Although it's ambiguous what the contained value is, Apple can guarantee the value in form of USD. Because simply they have such big money.

If it happens, why not for Google Bank or Amazon Bank? They all can issue some coins and their values are guaranteed by value of backing companies. And this is just a starting point. If once the coins are established, they will be accepted widely. And then, they can go further. The coins can be detached from USD eventually. The companies can provide "actual value" directly without intermediate medium called USD. If the companies guarantee provision of value, USD is not required anymore.

And this is actually better than Bitcoin monopoly. As they are all competing companies, their won't accept each other's coins, and people need to trade them. This will lead them to natural competition, and that will make their coin implementation more transparent and their prices more stable.

Actually, the system is already been implemented. They all have a form of credits such as Gift cards or AppStore balances. All what they have to do is simply issuing a new blockchain for them.

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