Cointime

Cointime

Download App
iOS & Android

Apple to Allow External App Downloads, a Plus for Crypto and Web3 Developers

Validated Media

Popular software and hardware company Apple Inc. could soon allow external app downloads on its popular iPhones and iPad devices. According to a Bloomberg report, the company is preparing to enable alternative app stores as part of an overhaul to comply with strict European Union requirements coming into effect in 2024.

Apple Engineers are Working to Open Up Key Elements of its Platforms

Apple’s software engineering and services teams are reportedly working towards opening up key elements of the company’s platforms, allowing device owners to download third-party apps without going through the Apple App Store.

The move is in response to an EU law focused on providing a fair environment for third-party developers and improving consumers’ digital lives. For a long time, software developers, regulators and app users have complained that companies such as Apple and Google control a significant portion of the mobile app industry.

This, in turn, means that crypto and Web3 developers stand to benefit from the EU requiring Apple to open up app downloads from third parties. It will provide a means for such developers to circumvent Apple’s restrictive policies and mandatory 30% commission on all purchases made in its app store.

The Law Will Likely Only Apply in the EU

The new EU law, dubbed the Digital Markets Act, is scheduled to be implemented in the coming months, but full compliance by companies is only required in 2024. The Act compels technology companies to allow the installation of external apps and a means for customers to change default settings.

The EU’s Digital Markets Act currently only applies to tech companies with a minimum market value of €75 billion ($80 billion) and a minimum of 45 million monthly users within the European Union.

However, the potential changes allowing third-party app downloads might only benefit Apple iOS users and developers in the European Union. Other countries and regions need to pass similar laws within their jurisdictions for Apple to provide a means for third-party app downloads.

(By John P. Njui)

Apple NFT Crypto Web3
Comments

All Comments

Recommended for you

  • Besenet: Inflation Will Return to Target Levels, Fed Chair Waller to Optimize Growth and Price Stability Path

    On June 24, U.S. Treasury Secretary Besenet stated that inflation will return to target levels, and Fed Chair Waller will optimize the path for growth and price stability. Trump and I understand the power of the bond market and have already seen the economic growth brought by artificial intelligence. (Sina Finance)

  • US Spot Ethereum ETF Sees Net Outflow of $82.18 Million

    On June 24, according to monitoring by Trader T, the US spot Ethereum ETF experienced a net outflow of $82.18 million yesterday.

  • US Spot Bitcoin ETF Sees Net Outflow of $113.79 Million Yesterday

    On June 24, according to monitoring by Trader T, the US spot Bitcoin ETF experienced a net outflow of $113.79 million yesterday.

  • BTC Surpasses $63,000

    Market data shows that BTC has surpassed $63,000, currently priced at $63,003.99, with a 24-hour decline of 1.47%. The market is experiencing significant volatility, so please ensure proper risk management.

  • BTC Surpasses $63,000

    Market data shows that BTC has surpassed $63,000, currently priced at $63,006.88, with a 24-hour decline of 1.52%. The market is highly volatile, so please ensure proper risk management.

  • Zuckerberg Directs Meta to Develop Prediction Market Application

    On June 24, The New York Times reported that Zuckerberg has instructed Meta to develop a prediction market application. The internal name for the application is 'Arena', which is similar to Polymarket or Kalshi.

  • U.S. Senate Passes Resolution Aiming to Limit Trump's War Powers Against Iran

    On June 24, the U.S. Senate passed a resolution regarding war powers related to Iran, with 50 votes in favor and 48 against, following a similar approval by the House of Representatives. This marks the first time such a resolution has been approved by both chambers of Congress. The resolution calls for the president to end military actions against Iran without a declaration of war or authorization of force from Congress. However, since this resolution is a joint resolution of Congress, it is not legally binding and does not require the president's signature, thus serving mainly a symbolic purpose.

  • AI Smart Terminals Experience Full Explosion

    On June 23, according to CCTV Finance, at the fourth Chain Expo, the original "Digital Technology Chain" was upgraded to the "Smart Technology Chain." This change in wording reflects that artificial intelligence is becoming the main character in the industrial chain. A newly established AI zone at the event gathered leading AI companies from both domestic and international markets, showcasing the entire chain from data and computing power to applications. Various AI products were on display, including AI glasses, smart cars with digital chassis, and humanoid robots that can play soccer. CCTV Finance reporters observed that the integration of artificial intelligence into the physical world is transitioning from mobile phones and computers to various new smart terminals. This year, the application of AI agents has also experienced a full explosion. Qian Kun, Senior Vice President of Qualcomm, stated that the empowerment of AI agents is leading to a significant upgrade cycle for existing terminal devices. China's industrial chain is very complete, and through continuous collaboration with Chinese partners, their products can quickly reach the market and gain global acceptance. Liu Xiangwen, Vice President of Alibaba Cloud Intelligence Group, noted that AI has evolved from mere chatting to becoming a productive force. The development of all stacks, whether GPU cloud or CPU, is progressing rapidly, and there is still greater potential ahead.

  • U.S. Stock Indices Experience Short-Term Rally

    On June 23, the Dow Jones Industrial Average rose by 0.07%; the S&P 500 index narrowed its decline to 0.77%, having previously fallen over 1.5%; the Nasdaq Composite index also reduced its drop to 1.17%, after having been down more than 2.3% at one point.

  • Web3 data and AI company Validation Cloud completes $10 million in new round of financing

     Web3 data and AI company Validation Cloud announced a $10 million financing round from True Global Ventures. The company plans to use the funds to expand its AI products and achieve seamless access to Web3 data.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company