Follow the money: Apple vs. the FBI

Charlie Stross offers an interesting theory as to why Apple so vigorously defended itself against the FBI attacks. He says that Apple plans to become a bank and that your phone (or watch) will be your secure cryptographic identifier that proves your identity and allows Apple to manage risk and fraud much better than the existing banking system. If they lose the encryption debate and backdoors are inserted in our devices, the future will be just as full of fraud as today.


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