“In one corner, we have Apple, the largest publicly traded company in the U.S. based on market cap and a business that likely needs no introduction,” Sean Williams writes for The Motley Fool. “In the other corner, we have blockchain technology, which is being touted as the greatest thing since sliced bread for industries ranging from financial services to retail and technology.”
“Blockchain describes the digital, distributed, and decentralized ledger that’s responsible for transparently and immutably (i.e., in an unchanging manner) recording all transactions without the need for a financial intermediary, which is often a bank,” Williams writes. “Blockchain is also being examined as a means to more effectively control supply chains, as well as quickly locate inefficiencies within logistics operations. Additionally, it can be used to immutably log medical records, create digital IDs, and act as a loyalty-rewards platform for retailers, to name a few of its noncurrency projects.”
“Now, the world’s most valuable company and the buzziest concept in the business universe may be joining forces,” Williams writes. “Back on Dec. 7, 2017, it became public information that Apple had filed a patent application (officially, “Obtaining and Using Time Information on a Secure Element”) with the U.S. Patent and Trademark Office for a timestamp verification system that would potentially incorporate the use of blockchain.”
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MacDailyNews Take: Security.
Apple patent filing hints at Blockchain use – December 9, 2017