Giant companies, such as the iPhone maker, Apple Inc., have made their fortunes through the centralization of their profit and powers.
They have managed to expand their products and services to such an extent that they have become a part of the lives of people in a variety of ways.
Until recently, Apple had shown that it possessed the ability to funnel-focus that allowed it to stay up-to-date and relevant with what its customers desired and what mattered to them the most.
However, it appears that this might not be true anymore and that would certainly not work in favor of tech giants these days.
The iPhone giant recently made updates to its App Store guidelines, which had been revealed on October 24th.
This also included crypto-related applications that are part of the App Store. According to the company, crypto exchange apps will have to deal with some restrictions.
They will only be allowed to facilitate transactions related to crypto and transmissions will only be allowed on exchanges that have obtained permissions and licensing for providing their services in the respective regions and countries.
Apart from that, Apple Inc. also said that payments that are required for unlocking extra features within an app will have to be made through the use of ‘in-app currencies’.
This means that the developer’s app will not be allowed to use any of their own mechanisms for unlocking features or content, such as QR codes, augmented reality markets, license keys and crypto and crypto wallets.
According to the technology giant, these measures have been put in place for ensuring that users can have a safe experience and give developers the opportunity to be successful.
But, a lot of people in the crypto community seem to disagree with this statement. They believe that this is just another trick that Apple is using for keeping all the profits that are made to itself.
This move appears to be quite interesting because it pertains to Web3 games and non-fungible token (NFT) technology that has been enjoying a surge in popularity of late.
This move has been termed as classic Apple because the tech giant appears to be interested in retaining control of the ‘walled garden’ that it has been building for years around its technology.
The company has always had strict control over what software is permitted to be used on Macs and iPhones and the functions it can serve.
However, now it seems that the iron fence may be suffering from some cracks. Some people have claimed that Apple has been blocking different features in crypto apps.
The European Commission also charged the company in May for its Apple pay practices, claiming that it abuses its payment dominance.
The in-app purchase function in Apple’s App Store has a steep 30% fee, so the company is not a stranger to keeping money in its ecosystem.
The company takes a cut from everything that comes close to its products and many believe it is trying to do the same with the updated guidelines.