Apple Card – Trailblazer Or Just Another Brick In The Wall?

Recent rumblings about the Apple Card and its inability to fund online gambling and crypto transactions seem to put the brand in a funky spot. Not only does the move not match Apple’s identity as an innovator, but also actively works against the unorthodox model it was built on.

Bryce Daifuku, CEO and founder of crypto gambling platform MintDice, has a unique take on the matter, his thoughts are included below.

[REITs]

Q2 hedge fund letters, conference, scoops etc

“Legacy players want to be seen – on the surface level – as progressive and open to cryptocurrencies and blockchain technology, while also appeasing those (including legislators) that are apprehensive to the much criticised sectors. When you add the gambling layer, it proves to be more consistent with the hesitancy we’ve seen from other payment processors. While standard for now, it’s disappointing that Apple – which is particularly revered for its ability to innovate and up-level the tempo of an industry – has decided to fall in line with legacy tech instead of leading the charge in the same fashion it did with mobile and general social technologies.

Additionally, this kind of intervention in the free market is bad because it reduces economic efficiency which is one reason why we have a need for cryptocurrencies in the first place. Gambling aside, this is merely a reminder that the institutions we are built upon are either not willing to invest in new opportunities, or are too afraid of what it might become.”




About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Prior to ValueWalk, Jacob was VP of Business Development at SumZero. Prior to SumZero, Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver