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Apple CryptoKit for iOS 13 suggests full cryptocurrency wallets are coming to iPhone

Apple CryptoKit for iOS 13 suggests full cryptocurrency wallets are coming to iPhone

Apple has announced “CryptoKit,” a new framework that will allow developers to perform cryptographic operations securely and efficiently. The newly added features suggest that the iPhone may soon come with a native crypto wallet.

The kit was quietly revealed on Apple’s website but is scheduled to be unveiled at the Worldwide Developers Conference (WWDC) on June 5.

Apple will introduce CryptoKit in the newest OS

With Apple’s Worldwide Developer Conference (WWDC) currently underway, all eyes are pointed at the latest version of iPhone’s operating system. Amidst the media frenzy, Apple has quietly released another important update for iOS 13—CryptoKit.

According to Apple, CryptoKit will provide developers with a new framework for cryptographic functionality. It will allow operations such as hashing, key generation, and encryption to be integrated into iOS apps.

However, what caused the biggest commotion in the crypto community was the fact that CryptoKit will allow developers to use public-key cryptography to create and evaluate digital signatures and perform key exchanges.

In addition to working with keys stored in memory, developers will also be able to use private keys stored in and managed by Apple’s Secure Enclave, the part of A7 and newer chips used in iPhones.

Frederic Jacobs, a member of Apple’s cryptographic and security engineering team, said CryptoKit was an advanced and efficient interface that will allow users to perform various cryptographic operations.

Viktor Radchenko, the founder of Trust Wallet, said Apple’s newest addition to iOS 13 means it could have full hardware wallet functionality in the future.

Apple is following Samsung’s lead and embracing cryptocurrency

The launch of CryptoKit coincided with information leaking out about Apple incorporating Bitcoin’s symbol on their icon set. The four Bitcoin in-app symbols will all be compatible with Apple’s San Francisco font.

The new icon set will enable developers to integrate Bitcoin into their apps. However, many social media users noticed that there were no logos or other cryptocurrencies among the set of 1,000 newly released icons.

Apple seems to be following the initiative Samsung has taken with integrating cryptocurrencies into their devices. Back in February, Samsung launched its flagship smartphone, the Galaxy S10, which had an integrated wallet that enabled users to store their private keys.

With rumors spreading that the company is also planning to integrate crypto payments into Samsung Pay, it seems that Apple has stepped up its game when it comes to cryptocurrency adoption. It’s too early to say whether or not the company plans on providing a full-on crypto wallet in their devices or even integrate crypto assets into Apple Pay.

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Priyeshu Garg
Author

Priyeshu Garg

Crypto Analyst @ CryptoSlate

Priyeshu is a software engineer who is passionate about machine learning and blockchain technology. He holds an engineering degree in computer science engineering and is a passionate economist. He built his first digital marketing startup when he was a teenager, and worked with multiple Fortune 500 companies along with smaller firms. When he is not solving transportation problems at his company (Ola), he can be found writing about the blockchain or roller skating with his friends.

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