Warren Buffett and Tim Cook aren't blockchain fans Global2000
for using blockchain to “stamp” digital documents with a time, allowing their movement to be more accurately tracked and potentially helping prevent fraud. Five years ago, the patent generated some waves in the media, but now that IBM , Xerox and others have filed similar patents, the project is about as close to white bread as blockchain gets. Probably just a defensive measure in a world dominated by open source technology.
There’s a couple likely possibilities why Tim Cook and Apple might be letting blockchain pass them by. First of all, Apple Pay was designed to solve many of the problems cryptocurrency solves, including slow transactions, and difficulty making retail purchases globally. While payments rails like PayPal and Square have adopted bitcoin, they also let customers buy-and-hold the asset, more like an investment vehicle than a means of payment, something Apple may be wary to do.
If Apple’s dearth of blockchain work is surprising, it’s frankly more shocking that Berkshire Hathaway has had anything to do with it at all.
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