Apple Hints At Behind-The-Scenes Blockchain Work In New SEC Filing

708
Apple Hints At Behind-The-Scenes Blockchain Work In New SEC Filing

The tech giant, Apple has recently submitted a document with the SEC (Securities and Exchange Commission) what appears to be understood by only a few. The document reveals details that reflect on its rapidly growing interest in blockchain technology.

The title of the said document was “Summary of Apple’s Commitment to Responsible Sourcing”. It entails regarding Apple’s commitment to strengthen the rights of its international chain of suppliers that fulfills the demand of its computers, communication devices, media gadgets, and other related accessories.

Throwing light on both its internal processes as well as its relations with its significant stakeholders i.e. the supply chain providers, they revealed the company’s endeavors to source product materials in an ethical manner.

The filing on Feb 15 indicated the company’s role in the creation of “Blockchain Guidelines” for Responsible Mineral Initiative by Responsible Business Alliance.

As per a press release by RBA, the guidelines that got released at the end of the last year shed light on the industry’s work towards setting a commonly agreed upon the assortment of principles, definitions, and aspects in relation to the application of blockchain tech to assist mineral supply chain. In the PR, there is no indication of Apple’s involvement, but the official web page of responsible mineral initiative mentions the tech firm as a company member.

As per the SEC filing, the company in the year 2018 chaired the board of the RBA and was part of many of its internal committees. It also participated in RBA’s working groups, consisting of “the blockchain team”.

However, the document does not mention whether Apple is going to join the cult of the highly ranked tech giants that are offering certain blockchain-related services or not. Certainly, if the tech giant is proceeding on certain kind of solution of supply chain it hasn’t revealed anything of significance.

Apple did not respond to a request for clarifying about its further information with RBA by press time.

As Jeff John Roberts of fortune.com puts it, it will be interesting to see if Apple will take the plunge in blockchain technology, as many industry experts suggest that “only a tech giant like Apple can make blockchain payments work at scale.”

Some of Apple’s ex-employees have joined industry startups in the crypto domain. As per the report by CoinDesk in December 2017, Apple had filed a patent that reflects its intention to certify timestamps by connecting the blockchain technology with Public Key Infrastructure (PKI).