Vitalik Buterin Ethereum ETH

Vitalik Buterin Delivering Blows Against Apple: Ethereum Founder

One of the brilliant minds behind the-second in lead Ethereum (ETH) blockchain network – Vitalik Buterin, has criticized heavily the tech giant Apple for its restrictive app-store policies. Mr. Buterin tweeted on the matter on the 27th June.

The move by the much respected Vitalik Buterin came after Apple’s choice on 11 June 2018 to alter the existing App Store Review Guidelines. With the act, crypto-apps all across platforms like IOS, macOS, watchOS, would be strongly. Below you can find the restrictions that will affect the crypto-ecosystem.

  • “Wallets: Apps may facilitate virtual currency storage, provided they are offered by developers enrolled as an organization.”
  • “Mining: Apps may not mine for cryptocurrencies unless the processing is performed off device (e.g. cloud-based mining).”
  • “Exchanges: Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself.”
  • “Initial Coin Offerings: Apps facilitating Initial Coin Offerings (“ICOs”), cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants (“FCM”), or other approved financial institutions and must comply with all applicable law.”
  • “Cryptocurrency apps may not offer currency for completing tasks, such as downloading other apps, encouraging other users to download, posting to social networks, etc.”

What is the biggest concern probably for the new altered restrictions is the banning of crypto-mining apps. The first time when Apple went against similar applications was four months ago in March 2018 when it took down Calendar 2 from Mac App-Store. The reason was for mining digital currency in the backstage in exchange for premium services

According to Vitalik Buterin, Apple is delivering better quality regulation than most in various areas, which is not turning true for crypto-apps. Apple does not have a monopoly on mobile or desktop devices (less than around 15% worldwide market share for the iPhone, likewise for Apple’s desktop/laptop computers). Concluding with the freedom for it to implement any rules it feels are right for the user.