According to recent news, Apple has filed a new patent app with the US Patent and Trademark Office that indicates the company is creating a system for certifying timestamps – all based on the blockchain technology.
There were some rumors about Apple using the patent application before, when Coindesk spotted it and how it talks about three ways for verifying timestamps with one involving the use of a blockchain platform. It seems like Apple sat on this news and is now considering to adopt blockchain at the right time – when it is gaining in prominence and popularity among all sorts of companies.
Basically, the blockchain bases on ‘blocks’ as the essential items added to it as a new set of recordings. A new node or computer connected to the network receives a copy of the blockchain – and it is the technology behind bitcoin and other digital currencies that powers this.
According to the California technology giant, this patent application can protect secure elements (for example SIM or MicroSD cards) storing the confidential information if it is compromised by hackers.
Apple is not the only technology that is considering the use of blockchain. Earlier this year, the Microsoft Corp. had a deal with Israel’s largest bank to develop a platform for digital bank guarantees based on the technology. The deal between Microsoft and Bank Hapoalim marked the first time a financial institution began using blockchain for financial contracts.
Thanks to the blockchain platform, Apple could benefit in the same way as the Israeli bank – easily sign up guarantors and secure their technology. Most importantly, the blockchain adds up to a secure system that saves time and one that bases on blockchain as a technology that is rapidly growing.
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