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Why Apple Pay may be the gateway drug bitcoin needs


When Apple released Apple Pay to the masses, it became a “moment.” Social media was flooded with photos and tweets of people tapping their phones to pay for their prescriptions at Walgreens or buying a Big Mac at McDonalds. News stations dispatched reporters to watch customers tap, tap, tap their phones to buy goods.

Bitcoin has not had its “ah-ha” or “where were you when you first spent bitcoin” moment yet — at least not on a mainstream consumer level. But if Apple Pay makes users more comfortable with digital transactions, that is a great thing for bitcoin, said Sean Percival, venture partner at 500 Startups, on a panel at the Future of Money and Technology Summit in San Francisco.

While Percival acknowledged that Apple is likely to never use bitcoin, Apple Pay is serving as an introduction for the average consumer to the idea of paying with a phone…

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