Apple Hints at Behind-the-Scenes Blockchain Work in New SEC Filing

[mich]

Apple Hints at Behind-the-Scenes Blockchain Work in New SEC Filing
https://www.coindesk.com/apple-sec-filing-hints-at-tech-giants-blockchain-interest?utm_source=twitter&utm_medium=coindesk&utm_term=&utm_content=&utm_campaign=Organic%20

Apple has submitted what might seem like an arcane filing with the Securities and Exchange Commission (SEC) – but the document contains tantalizing details about the computing giant’s interest in blockchain tech.

The document – entitled “Summary of Apple’s Commitment to Responsible Sourcing” – details the company’s commitment “to upholding human rights across its global network of suppliers that support the manufacturing of its mobile communication and media devices, personal computers, and related accessories.” Making note of both its internal work on this front as well as its relations with supply chain providers, the document is largely a description of Apple’s efforts to ethically source materials for its popular products like the iPhone.

Notably, however, the Feb. 15 filing makes mention of Apple’s involvement in the drafting of “Blockchain Guidelines” for the Responsible Business Alliance’s Responsible Minerals Initiative. According to an RBA press release, those “voluntary guidelines” were published in mid-December of last year and “represent a first industry effort to define a common set of principles, attributes and definitions for the application of blockchain technology to support mineral supply chain due diligence.” The press release makes no mention of Apple’s involvement, but the tech firm is listed as a “Company Member” on the effort’s official web page.

The SEC filing also notes that in 2018, Apple chaired the board of the RBA and participated in a number of its internal committees and working groups, including “the blockchain team.”

When iChain?

These details aside, the filing doesn’t touch on what Apple-watchers might most want to know: whether the Cupertino colossus is on the cusp of joining the growing ranks of tech giants that are offering some form of blockchain-related service. Specifically, if Apple is working on some kind of supply chain-focused solution, it hasn’t (yet) shown its cards.

A request for further information about Apple’s work with the RBA was not returned by press time.

As Fortune’s Jeff John Roberts wrote in December, the question of whether Apple will take the proverbial plunge is an active one, with many in the industry contending that “it’s going to take a tech giant like Apple to make blockchain payments work at scale.”

There is demonstrable interest internally, to say the least. The crypto space has seen Apple veterans join industry startups, and in December 2017, as CoinDesk reported at the time, a published patent filing from Apple detailed a proposed program to certify timestamps by combining aspects of blockchain technology with Public Key Infrastructure (PKI).

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[dothebeats]

Everyone seemed to be interested in creating their own blockchains lately and companies may have already developed their own version and starts filing it on SEC. Should "iChain" become a reality, it will probably be integrated on their already functioning Apple Pay to further boost security and efficiency overall. As for the purpose of their blockchain, it is yet to be revealed to the masses, but with this recent filing on the SEC, we know something is up from Apple.

[kryptqnick]

If Apple is making guidelines for blockchain businesses, it means that it kind of intends to be an authority that offers some regulations. It's interesting that in the US it's the tech giants that will probably get to decide, not the banks and governmental organizations like in other countries. Nevertheless, does not the SEC have its own guidelines, for ICOs at least? What's the relationship between this company and the Commission?
Instead of making another blockchain, they'd better just support a well-established successful cryptocurrency that they find to be the best for their purposes. Creating new ones is just multiplying entities without necessity.

[kolesozw]

Yeah, but own blockchain to lower cost, improve accountability or whatever need do they have is not equal to crypto acceptance. Many company are now making their own centralised chain to benefit from the technology itself, but almost all of them will never accept any coins until any of Top player adopt it first.

[eaLiTy]

As Fortune’s Jeff John Roberts wrote in December, the question of whether Apple will take the proverbial plunge is an active one, with many in the industry contending that “it’s going to take a tech giant like Apple to make blockchain payments work at scale.”

If major companies like Apple or Amazon  takes the initiative it is true that crypto currencies will be globally accepted in a much wider market and that too in a shorter time frame and the adoption rate will increase hundred fold and when it comes to development too we need good front ends and many more services than we have now to come up with solutions so that everyone could use and secure these coins in a better way without the fear of someone hacking from them.

There is demonstrable interest internally, to say the least. The crypto space has seen Apple veterans join industry startups, and in December 2017, as CoinDesk reported at the time, a published patent filing from Apple detailed a proposed program to certify timestamps by combining aspects of blockchain technology with Public Key Infrastructure (PKI).

No doubt it is a great initiative as we have many coins that use different public key types and i am not sure how they are planning to combine blockchain and Public Key infrastructure and how they will deal if the key is leaked and so on and how they are going to issue the certification, lets see how things goes.

[figmentofmyass]

Yeah, but own blockchain to lower cost, improve accountability or whatever need do they have is not equal to crypto acceptance. Many company are now making their own centralised chain to benefit from the technology itself, but almost all of them will never accept any coins until any of Top player adopt it first.

i'm not convinced most of these companies will benefit at all. i think many feel forced by the hype to do some R&D and maybe develop an implementation, but that's a far cry from full integration into their business structure. some of these filings (like bank of america's many crypto patent filings) are probably just done to appear relevant and cutting edge in fintech. i'm really skeptical of the centralized blockchain models i've heard rumors about. they just don't make sense. they're either glorified databases (private one node network) or completely insecure because they don't have a mining component.

[Crypdon]

Everyone seems to follow Apple so if they get involved in crypto then other companies will follow them. If Apple can make it look cool and hip then the rest of the world will follow

[sana54210]

What apple can do with blockchain is seriously countless. From the manufacturing and producing new phones to connecting all phones together and sending out who owns what and which phone is tied to who.

I mean there is seriously no limit to what they can do with blockchain, they have a worldwide global network of people who own their phones, I know it could be virtually impossible (at their level it is probably possible but too costly) to put blockchain system in work for older phones but maybe they already have it for the latest ones and will have for the future ones as well. Like I said from the first creation of the phones to end user they can use so much with blockchain that it would really improve their ways insanely. I hope they can show the world how awesome blockchain is.

[stompix]

If major companies like Apple or Amazon  takes the initiative it is true that crypto currencies will be globally accepted in a much wider market and that too in a shorter time frame and the adoption rate will increase hundred fold and when it comes to development too we need good front ends and many more services than we have now to come up with solutions so that everyone could use and secure these coins in a better way without the fear of someone hacking from them.

Stop thinking that blockchain means automatically crypto currencies.

The blockchain is mainly a distributed database of records, it can be used for anything, and it doesn't imply having a currency on top of it. And that is also the case here, they are probably going to use it in order to track and monitor their supply chains

for production.

i'm really skeptical of the centralized blockchain models i've heard rumors about. they just don't make sense. they're either glorified databases (private one node network) or completely insecure because they don't have a mining component.

Exactly, most of the projects will be private chains that will (if) replace traditional databases but of course, they will never be opened to the public, nor will they be protected by stuff like PoW os PoS or anything like it, they will be protected by their own isolation as there is no need for the public to find out how many touchscreens and when has apple ordered.