Apple, you got the largest market capitalization in the world because you dared to think differently. So when you decided to shut down zaps on Damus, it came as a shock to someone who always appreciated Apple’s rebellious spirit. Removing zaps from the iOS store does not prevent me from doing so. Instead, it simply makes me use a web browser. Reconsider what zaps can do for your business so you don’t miss the forest for the trees.
The underlying technology of bitcoin cannot be uninvented. It is a revolutionary concept destined to last as long as society requires money and individuals are guided by self-interest. The invention of bitcoin has given rise to a decentralized network poised to redefine the very fabric of human organization, ushering in transformations previously unimaginable. Many people would never have imagined giving up their phone for an iPhone, until they saw an iPhone. In many ways, bitcoin is similar when it comes to money. What Satoshi created was an absolute scarcity that anyone can verify for themselves. In Satoshi and Steve we find visionaries who transformed the unattainable into reality, rewriting the narrative of human achievement.
bitcoin transcends the mere creation of currency. If widely adopted as the foundational layer of global finance, bitcoin could fundamentally transform the role and function of governments, similar to how the Internet disrupted and transformed businesses. As Jobs said, “Many times, people don’t know what they want until you show it to them.” Great thinkers reject the status quo. If Satoshi Nakamoto believed in traditional edicts and “too big to fail” institutions, bitcoin would not exist.
Like cash and digital payments, bitcoin has its own set of trade-offs. Cash offers superior privacy and allows for peer-to-peer payments, but it cannot be sent over the Internet. Credit cards and bank accounts allow for convenient online payments, but require users to provide personal information. Both are fiat currencies, which means they are subject to inflation risks. bitcoin offers the promise of secure online money transfers without the need for banks or intermediaries, but requires users to understand its unique characteristics and take responsibility for their finances. If you don’t run a node, you introduce counterparty risk, precisely what bitcoin was designed to solve. The delicate balance between comfort and control is a personal choice. However, I firmly believe that the interdisciplinary design principles that propelled Apple to greatness could significantly contribute to resolving this tension between ease of use and autonomy within the realm of bitcoin. Apple stands to gain substantially by offering well-designed bitcoin services and improving the overall user experience.
Steve Jobs and Satoshi Nakamoto took a first principles approach to innovation. Nakamoto’s pioneering work led to the creation of a decentralized system that combined elements of computing, cryptography, and economics. It’s almost poetic that such a brilliant open system finds a home on Apple’s sleek machines. Jobs had a unique vision for Apple, one in which control of both hardware and software was paramount to ensure the highest quality and user experience. While this approach sometimes frustrated others, it undoubtedly played a crucial role in propelling Apple to its current status in the world. However, innovation is a constantly evolving landscape and there are times when the adoption of innovative technology becomes inevitable. Jobs’ commitment to control was unwavering, but even he recognized the need to adopt superior technology when it emerged. Steve Wozniak, the other co-founder of Apple, has rightly called bitcoin tech/apple-steve-wozniak-bitcoin-gold-crypto-b1882526.html”>“mathematical miracle” and I see no reason why the other Steve wouldn’t have agreed. While Apple represents a formidable force, bitcoin operates as a simple protocol. Apple will undoubtedly benefit from the integration of bitcoin into its ecosystem, but bitcoin remains independent and resilient, free from dependence on a single entity, even an industry giant like Apple. There is no doubt that Apple’s immediate survival does not depend on the adoption of bitcoin. However, complacency fosters stagnation, and over time the company may face increasing challenges if it does not harness bitcoin‘s potential.
While I appreciate the brilliance of Steve Jobs and his commitment to his vision, I think Satoshi Nakamoto’s community-focused approach was a better fit for what he was creating. bitcoin evolves through decentralized governance, where decisions about its development are made collectively by its global user base. This ensures that the digital currency remains adaptable and responsive to the needs and preferences of its users. It also makes it harder for people to “move fast and break things” that can be disruptive and damaging in a financial system that people around the world are using as a store of value.
bitcoin‘s strength and adaptability are largely due to the absence of a solitary central figure. It was not the creation of a solitary individual; in fact, Satoshi cited the work of eight other people in the original white paper. While Nakamoto launched the network, bitcoin has evolved since then thanks to the contributions of many developers and community members. With no lone leader to point to, bitcoin has proven adaptable and resilient amid free market forces and waves of scrutiny. Although individuals come and go, transformative ideas can endure and change the world. As the movie V for Vendetta noted, powerful principles can outlast any person: “We are told to remember the idea, not the man, because a man can fail. He can be caught, killed and forgotten, but within 400 Years later, an idea can still change the world.” The decentralized spirit of bitcoin embodies this spirit of an idea taking on a life of its own.
Unlike bitcoin‘s decentralized beginnings, Apple’s success is largely attributed to the vision and leadership of one man. What made Steve Jobs so successful is how he seamlessly combined art, music, and creativity into products that people emotionally connected with. Steve was excellent at evoking people’s emotions through thoughtful design and marketing. While bitcoin and Apple took very different paths, they both demonstrate how a great idea, whether championed by one leader or many, can profoundly impact the world.
Innovation thrives at the crossroads of diverse disciplines. In the context of bitcoin‘s immense potential, I would like to propose a vision for how Apple could leverage this interdisciplinary approach to not only honor its legacy but also embrace the future.
1. Easy-to-Use bitcoin Integration: Apple’s ability to seamlessly combine technology with user experience is legendary. Collaborations between computer scientists, UX designers, and educators could lead to exceptional tools and resources to demystify bitcoin for the masses. Imagine integrating lightning payments into Apple Pay, simplifying bitcoin transactions and potentially eliminating the need to share revenue with banks and credit card providers. The easy-to-use experience could redefine digital payments.
2. Regulatory collaboration: When navigating the complex regulatory landscape, Apple could work together with legal experts and economists to develop clear frameworks. By demonstrating a commitment to balancing innovation with consumer protection, Apple can earn the trust of regulators and lawmakers. This proactive stance could pave the way for greater acceptance of bitcoin and reduce the need for protracted litigation.
3. Financial services revolution: By collaborating with developers and fintech experts, Apple could design financial products and services that harness the power of bitcoin while ensuring security and compliance. One notable challenge is the absence of chargeback mechanisms in bitcoin. Here, Apple could innovate by exploring solutions that preserve bitcoin‘s core principles of trustlessness and immutability while offering users optional chargeback mechanisms through trusted third parties.
While some purists may balk at the idea of chargebacks, the goal is to strike a balance and let Bitcoiners decide what tradeoffs they are willing to make. By encouraging innovation in this area, Apple can help bitcoin adapt to a broader range of users and use cases.
4. Social impact: I believe bitcoin can be a force for social betterment, promoting financial inclusion, economic development, and individual sovereignty. Rather than dismantling existing systems, bitcoin offers a way to improve them. It’s disheartening to see Apple, once known for its rebellious spirit, walk away from such an opportunity.
Imagine a world where people can send micropayments through social media to directly support the creativity and content of others. Technologies like bitcoin‘s Lightning Network and the decentralized Nostr protocol are making this possible.
Instead of seeing this as a threat to centralized app store control and fees, Apple could embrace and accelerate such innovation. The seamless integration of bitcoin/Lightning and Nostr on Apple devices can unlock new economic and creative opportunities globally.
The spirit of decentralized innovation aligns with the ideals of freedom and empowerment. Allowing people to exchange value directly can generate innovative ideas. As Apple knows, creativity and innovation thrive when restrictions are removed.
If Apple leverages the promise of bitcoin‘s ultra-fast micropayments and decentralized platforms like Nostr, it could spread far-reaching economic and creative empowerment around the world. The future will belong to those who not only optimize existing models but reimagine technology‘s relationship with freedom and humanity.
This is a guest post by Conor Chepenik. The opinions expressed are entirely their own and do not necessarily reflect those of btc Inc or bitcoin Magazine.
