Re: Apple Pay

On 9/17/14 9:38 PM, Manu Sporny wrote:
> On 09/10/2014 12:03 PM, Melvin Carvalho wrote:
>> >Apple just introduced Apple Pay in their live event at
>> >http://live.arstechnica.com/apples-september-9-2014-event/
>> >
>> >Coinapult's response:)
>> >
>> >http://imgur.com/2QJwyMY
> Although tongue-in-cheek, I thought that this was one of the most
> insightful responses.
>
> Yes, Apple is huge and Apple Pay is going to be big, but remember that
> Apple's market is still quite small compared to the size of the Web.
> Also note that Apple is a luxury goods maker. The likelihood that
> Apple's technology will reach those that need it the most, like the
> worlds underbanked and unbanked, is highly unlikely. Also keep in mind
> that it's a closed ecosystem by design. It's a great business model for
> Apple, it works well for them.
>
> We should learn all we can from Apple Pay, but not lose sight of the
> fact that we're not trying to build a closed, siloed ecosystem with the
> Web Payments work.
>
> -- manu

Manu,

Your response is a little confusing here. Remember the view point you 
held re. Nigeria+Mastercard obliteration of privacy for all Nigerian 
citizens.

Look, Apple is using their clout to make a better ecosystem for handling 
payments. I don't see how anything produced on the standards front would 
be contrary to Apple's long-term goals in regards to payments. Note, 
they always leverage industry standards in their solutions, in many 
cases better than all of their competitors.

Lesson #1 will be that Apple Pay isn't a closed system.

Ultimately, Bitcoins will rule, that's where the expanse of the Web will 
ultimately kick-in and totally inflect everything :-)


-- 
Regards,

Kingsley Idehen 
Founder & CEO
OpenLink Software
Company Web: http://www.openlinksw.com
Personal Weblog 1: http://kidehen.blogspot.com
Personal Weblog 2: http://www.openlinksw.com/blog/~kidehen
Twitter Profile: https://twitter.com/kidehen
Google+ Profile: https://plus.google.com/+KingsleyIdehen/about
LinkedIn Profile: http://www.linkedin.com/in/kidehen
Personal WebID: http://kingsley.idehen.net/dataspace/person/kidehen#this